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Are you looking for some dividend options for your portfolio? Then check out the two ASX shares listed below that Goldman Sachs rates highly.

Here’s why these ASX dividend shares have been tipped to as buys:

Scentre Group (ASX: SCG)

The first ASX dividend share to look at is Scentre. It is the owner and operator of Australia’s leading shopping centre portfolio. Scentre has over $50 billion of retail real estate assets under management across 42 Westfield shopping centres.

While Scentre has been hit hard by the pandemic, the team at Goldman Sachs sees the company as a top reopening play.

Goldman Sachs commented: “Prior to the snap lockdown restrictions, sales metrics showed signs of improvement along with a pick-up in leasing momentum which we expect to continue as restrictions continue to ease and customer visitations continue to rebound.”

And with 70%+ of its base rental income subject to inflation-linked escalation, the broker believes that Scentre is well-placed to benefit from rising inflation.

As for dividends, Goldman is forecasting dividends of ~14 cents per share in FY 2021 and then 15.9 cents per share in FY 2022. Based on the latest Scentre share price of $2,88, will mean yields of 4.9% and 5.5%, respectively.

Goldman has a buy rating and $3.47 price target on the company’s shares.

Suncorp Group Ltd (ASX: SUN)

Another ASX dividend share that could be in the buy zone is Suncorp. Through its numerous brands, for over a century Suncorp has been building futures and protecting what matters by offering insurance, banking, and wealth products and services.

This has allowed the company to carve out a strong market position in Australia, which looks unlikely to change in the foreseeable future.

Goldman Sachs is positive on Suncorp’s future and has a buy rating and $13.74 price target on its shares.

It commented: “While it is now harder to argue that SUN is cheap, we have nonetheless maintained our Buy rating, where we see good momentum in the business, plus near-term earnings risks as skewed positively.”

The broker is expecting some generous dividends in the near term. It has pencilled in fully franked dividends per share of 61 cents in FY 2022 and 73 cents in FY 2023. Based on the current Suncorp share price of $11.16, this will mean yields of 5.5% and 6.5%, respectively.

The post 2 ASX dividend shares Goldman Sachs rates as buys appeared first on The Motley Fool Australia.

More reading

• Leading brokers name 3 ASX shares to sell today
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Analysts name 2 ASX 200 dividend shares to buy today
• Own Suncorp (ASX:SUN) shares? Here’s what top analysts are saying
• Could this impact the performance of ASX 200 banks more than interest rates in 2022?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Key points

• Telstra shares are viewed as an opportunity by several leading analysts
• It has made two, useful bolt-on acquisitions in recent months
• The T25 strategy is expected to increase profitability and lead to growing dividends over time

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The Telstra Corporation Ltd (ASX: TLS) share price looks like an opportunity according to some analysts.

Despite the recent drop of the ASX share market, Telstra shares are still actually up by 25% over the past year.

It has been a big year of strategic moves by the business. Analysts are taking note and think that the company could be an opportunity.

Analyst ratings on the Telstra share price

Ord Minnett currently rates the Telstra share price as a buy with a price target of $4.85. That’s a potential increase of more than 20% this year if the broker is right.

Another broker that likes the telco is Credit Suisse, which rates it as a buy with a price target of $4.40.

Morgans rates the Telstra share price as a buy with a price target of $4.55.

What are the experts seeing?

The telco giant has made two acquisitions in the last several months that can diversify and help grow the company’s earnings over the long-term.

MedicalDirector deal

Telstra Health has bought a business called MedicalDirector for an enterprise value of $350 million.

It’s described as a leading GP clinical and practice management software company. It helps the specialists focus on providing high-quality care and reducing time on paperwork and administration. At the time of the acquisition, it supported approximately 23,000 medical practitioners and is used to deliver more than 80 million consultations a year.

Digicel Pacific acquisition

One of the most interesting acquisitions on the ASX in 2021 was the purchase of the Digicel Pacific business in partnership with the Australian Government. The purchase price for the South Pacific telco was US$1.6 billion and up to an additional US$250 million subject to business performance.

The Digicel Pacific business will be owned and operated by Telstra. The ASX telco is providing US$270 million of equity to the purchase price, whilst the Australian Government will provide the remaining US$1.33 billion through a combination of non-recourse debt facilities and equity-like securities.

It has a “strong” market position in the South Pacific region, with a leading position in PNG, Nauru, Samoa, Tonga and Vanuatu. Digicel is number two in Fiji.

Digicel Pacific made US$233 million of earnings before interest, tax, depreciation and amortisation (EBITDA) in the 12 months to 31 March 2021.

T25 strategy

One of the main things that analysts are now focused on in regards to the Telstra share price is its strategy for the next few years, called T25.

It involves ongoing expansion of 5G coverage and regional 4G coverage, increasing customer satisfaction and increasing the number of Telstra Plus members to 6 million.

On the financial side of things, to FY25, Telstra wants to achieve a compound annual growth rate (CAGR) of mid-single digits for underlying earnings before interest, tax, depreciation and amortisation (EBITDA) and high-teens for underlying earnings per share (EPS).

The company is also looking to reduce its net fixed costs by another $500 million.

Telstra also said that it’s looking to maximise its fully franked dividends and seek to grow them over time.

Telstra share price valuation

Using Ord Minnett’s numbers, Telstra shares are valued at 21x FY23’s estimated earnings with a grossed-up dividend yield of 5.8%.

The post Here’s why the Telstra (ASX:TLS) share price could be an opportunity: analysts appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares with 4%+ yields
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• Here’s why the Telstra (ASX:TLS) dividend is back over 4%
• These 3 ASX 200 shares are topping the volume charts on Thursday
• Telstra (ASX:TLS) ‘best placed in the Aussie mobile market’ says JP Morgan

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week in sensational style. The benchmark index rose 2.2% to 6,988.1 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to start the week in the red despite big gains on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 16 points or 0.2% lower this morning. On Wall Street, the Dow Jones rose 1.65%, the S&P 500 stormed 2.4% higher, and the Nasdaq raced 3.1% higher.

Oil prices push higher

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a decent day after oil prices pushed higher on Friday. According to Bloomberg, the WTI crude oil price rose 0.25% to US$86.92 a barrel and the Brent crude oil price rose 0.8% to US$90.03 a barrel. Supply concerns led to oil prices recording their sixth consecutive weekly gain.

Pilbara Minerals quarterly update

The Pilbara Minerals Ltd (ASX: PLS) share price will be on watch today when it releases its second quarter update. Investors will be keen to see if the lithium miner is on track to achieve or exceed its shipments guidance of 440 dmt to 490,000 dmt in FY 2022 following a strong first quarter. In addition, all eyes will be on pricing, with reports that lithium prices are at record levels.

Gold price falls again

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after the gold price fell again on Friday night. According to CNBC, the spot gold price fell 0.5% to US$1,786.6 an ounce. The gold price had its worst week since November after the US dollar strengthened amid rate hike optimism.

ResMed upgraded to buy rating

The ResMed Inc (ASX: RMD) share price could be in the buy zone according to the team at Goldman Sachs. This morning the broker upgraded the sleep treatment company’s shares to a buy rating with a $35.80 price target. Goldman notes that near-term challenges have created a long-term opportunity for ResMed.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

More reading

• Is February 2022 the time to buy these 2 beaten-up ASX shares?
• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Why is it when Jerome Powell sneezes, the ASX 200 catches a cold?
• Why AnteoTech, Newcrest, Nitro, and ResMed shares are falling

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re looking for growth shares to buy, then the tech sector could be a great place to start your search. Particularly given recent weakness in the sector, which has left many shares trading notably lower than their highs.

With that in mind, listed below are two top tech shares that could be worth considering. Here’s what you need to know about them:

BetaShares Global Cybersecurity ETF (ASX: HACK)

The first tech option for investors to look at is actually an ETF. The BetaShares Global Cybersecurity ETF gives investors access to a group of tech shares with a focus on cybersecurity services. Among the companies in the fund that you’ll be owning a slice of are the likes of Accenture, Cisco, Cloudflare, Crowdstrike, Okta. Positively, with demand for these types of services increasing due to the growing threat of cyberattacks on governments and businesses, the BetaShares Global Cybersecurity ETF has been tipped as a potential long term market beater.

Life360 Inc (ASX: 360)

Another tech share to look at is Life360. It is the San Francisco-based technology company behind the incredibly popular Life360 mobile app. This is a market leading app for families, offering features such as communications, driver safety, and location sharing. During the 12 months ended 31 December, Life360 grew its active user base to a massive 35.5 million. This underpinned significant recurring revenue growth, which shows no signs of slowing. Especially given recent acquisitions which have broadened its product range and opened up cross-selling opportunities to its user base. All in all, Life360 appears well-placed to continue its strong growth for some time to come according to Bell Potter. It is a fan of the company and put a buy rating and $15.00 price target on its shares last week.

The post 2 excellent ASX tech shares for investors in February appeared first on The Motley Fool Australia.

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• Life360 (ASX:360) share price pushes higher after reaching 35.5m users in Q4

Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended BETA CYBER ETF UNITS and Life360, Inc. The Motley Fool Australia owns and has recommended BETA CYBER ETF UNITS. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Are you interested in boosting your income portfolio with some top dividend shares? If you are, you may want to look at the two listed below.

Here’s what you need to know about these ASX dividend shares:

Centuria Industrial REIT (ASX: CIP)

The first ASX dividend share to look at is Centuria Industrial. It is focused on building a portfolio of high quality industrial assets to deliver income and capital growth to investors. In fact, it is the largest domestic pure play industrial REIT on the Australian share market.

It has been performing strongly in recent years and has continued this trend in FY 2022. Centuria Indsutrial REIT recently revealed strong nationwide demand for industrial space, particularly from ecommerce-related tenant customers. This has underpinned strong rental growth year to date in FY 2022.

This bodes well for dividends this year. Centuria Industrial REIT is targeting funds from operations (FFO) of at least 18.1 cents per share and a distribution of 17.3 cents per share. Based on the current Centuria Industrial REIT share price of $3.82, the latter will mean a 4.5% dividend yield for investors.

Rural Funds Group (ASX: RFF)

Another ASX dividend share to look at is Rural Funds. It is an agricultural real estate investment trust (REIT) that owns a portfolio of Australian agricultural assets. These high quality assets are leased to corporate agricultural operators including Treasury Wine Estates Ltd (ASX: TWE).

Rural Funds has also been adding to its portfolio with acquisitions over the last 12 months. These acquisitions include cattle and cropping properties and macadamia orchards in Queensland, which are consistent with its strategy of acquiring assets with potential for productivity improvements in agricultural sectors it has experience in.

As for its dividends, management is intending to increase its distribution by its annual target rate of 4% to 11.73 cents per share in FY 2022. Based on the current Rural Funds share price of $2.86, this represents an attractive yield of 4.1%.

The post 2 top ASX dividend shares for income investors appeared first on The Motley Fool Australia.

More reading

• 2 ASX dividend shares with 4%+ yields
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• Centuria Industrial Reit (ASX:CIP) share price rises after six more acquisitions
• Analysts name 2 ASX dividend shares to buy
• Here are 2 top ASX dividend shares with attractive yields

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended RURALFUNDS STAPLED. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that investors might want to hear about are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Citi, its analysts have retained their sell rating and cut their price target on this iron ore giant’s shares to $17.00. This follows the release of a second quarter update which fell short of the broker’s expectations. This was particularly the case with iron ore price realisations, which have continued to weaken. Outside this, the broker believes the market is too optimistic on the Fortescue Future Industries business. The Fortescue share price ended the week at $19.45.

Premier Investments Limited (ASX: PMV)

A note out of Goldman Sachs reveals that its analysts have retained their sell rating but lifted their price target on this retail giant’s shares to $23.60. While Premier Investments delivered a half year update ahead of the broker’s expectations, this was largely due to rental benefits. Without this, the result would have been in line with its estimates. In light of this and its long term concerns over the Smiggle business, the broker hasn’t seen enough to change its rating. The Premier Investments share price was fetching $28.40 at Friday’s close.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating and cut their price target on this airline operator’s shares to $4.40. The broker has reduced its earnings estimates to reflect rising oil prices. Its analysts have also warned that oil prices could get to US$100 a barrel, which could weigh on its margins. The Qantas share price ended the week at $4.73.

The post Top brokers name 3 ASX shares to sell next week appeared first on The Motley Fool Australia.

More reading

• What has driven the Fortescue (ASX:FMG) share price up 40% in three months?
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• Brokers name 3 ASX shares to buy today
• Are Virgin Australia shares set to rejoin the ASX soon?
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Fortescue Metals Group Limited (ASX: FMG) share price has risen by 40% over the past three months. What has been driving the ASX miner higher?

Fortescue is one of the biggest miners in Australia and it has rapidly recovered a lot of its lost market capitalisation. The Fortescue share price fell to around $14 in October.

The iron ore price is recovering

Fortescue is a substantial iron ore miner, one of the biggest in the world along with BHP Group Ltd (ASX: BHP), Vale and Rio Tinto Limited (ASX: RIO).

Miners have to accept the best price that they can get for the commodity that they produce. Resource prices can be volatile and cyclical.

The iron ore price was exceptionally high in the middle of 2021 thanks to Chinese demand. However, as Fortescue reached the final quarter of the 2021 calendar year, the iron ore price fell with China telling steel producers to reduce their output and improve their emissions profile as the Winter Olympics got closer.

Whilst the iron ore price fell to around US$80 per tonne in November, it has since come roaring back to around US$140 per tonne.

What does this mean for the Fortescue profit?

Profit expectations can have a sizeable impact on the Fortescue share price.

For Fortescue, extracting the iron ore from the ground largely costs the same whether the iron ore price is US$100 or US$150 per tonne. So, a higher iron ore price largely adds to the net profit apart from paying more money to the government as well.

Brokers had been expecting that the iron ore price would drop to around US$90 or US$80 per tonne this year. The consensus view was not that iron ore would see a recovery back above US$130 per tonne as we have seen.

What do analysts think of Fortescue now?

The broker Macquarie thinks that the Fortescue share price is a buy, with a price target of $21.

It was noted by Macquarie that Fortescue’s iron production in the second quarter of FY22 was good, but the discount paid for the ASX miner’s iron ore is increasing because it’s a lower grade than what is supplied by peers like BHP and Rio Tinto.

In the second quarter, Fortescue’s iron ore shipments of 47.5 million tonnes contributed to shipments of 93.1mt for the first half of the year, which was 3% higher than the first half of FY21.

However, there are plenty of brokers that don’t think the Fortescue share price is going to perform this year. UBS rates it as a sell with a price target of just US$14.90.

Credit Suisse has an even lower price rating of just $13.50, suggesting that it looks expensive compared to its peers. But it does see the potential for the green division of the company called Fortescue Future Industries (FFI).

The ASX miner recently announced the acquisition of UK-based Williams Advanced Engineering (WAE) for approximately US$223 million. It provides critical technology and expertise in high-performance battery systems and electrification.

The post What has driven the Fortescue (ASX:FMG) share price up 40% in three months? appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
• Top brokers name 3 ASX shares to sell today
• Broker tips Fortescue (ASX:FMG) share price to sink 30% and warns of dividend cuts
• 5 things to watch on the ASX 200 on Thursday
• Why Accent, BrainChip, Fortescue, and Novonix shares are sinking

Motley Fool contributor Tristan Harrison owns Fortescue Metals Group Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here’s why brokers think investors ought to buy them next week:

Jumbo Interactive Ltd (ASX: JIN)

According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lottery ticket seller’s shares to $20.75. This follows the announcement of the acquisition of UK-based external lottery manager, StarVale. Morgans is a fan of the deal and notes that it is consistent with management’s strategy of expanding its business in the UK and North America. All in all, the broker remains attracted to the company’s long-term growth potential, structural tailwinds, and balance sheet position. The Jumbo share price ended the week at $17.47.

Nearmap Ltd (ASX: NEA)

A note out of Citi reveals that its analysts have upgraded this aerial imagery technology and location data company’s shares to a buy rating with a $2.10 price target. Its analysts made the move on valuation grounds following recent share price weakness. In addition, the broker suspects that Nearmap’s cash burn could peak this year, which it feels could boost investor sentiment. The Nearmap share price was fetching $1.25 at Friday’s close.

REA Group Limited (ASX: REA)

Analysts at Goldman Sachs have retained their buy rating but trimmed their price target on this property listings company’s shares to $168.00. According to the note, the broker is expecting a half year result ahead of the market’s expectations next month from the realestate.com.au operator. Goldman estimates that REA grew its revenue and EBITDA by 40% and 30%, respectively during the second quarter. This is up from 35% and 27% growth during the first quarter. The REA share price ended the week at $142.00.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Is February 2022 the time to buy these 2 beaten-up ASX shares?
• Analysts name 2 ASX shares to buy right now
• Top broker tips REA (ASX:REA) shares as a buy ahead of a ‘very strong result’
• Why Beach, Jumbo, Premier Investments, and Western Areas are pushing higher
• Jumbo Interactive (ASX:JIN) share price leaps 6% on acquisition announcement

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Jumbo Interactive Limited and Nearmap Ltd. The Motley Fool Australia owns and has recommended Nearmap Ltd. The Motley Fool Australia has recommended Jumbo Interactive Limited and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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If you’re wanting to diversify your portfolio with a little bit of exposure to the mining sector, then you may want to look at the ASX 200 mining shares listed below.

Here’s what analysts are saying about them:

Allkem Ltd (ASX: AKE)

The first ASX 200 mining share that could be in the buy zone in February is Allkem. It is the company that was formed from the merger of two leading lithium miners – Galaxy Resources and Orocobre.

Allkem is now a top five global lithium miner with a collection of world class operations. These include Olaroz, the Cauchari Lithium Project Joint Venture, Mt Cattlin, the Sal de Vida brine project, and the James Bay spodumene project.

Morgans is bullish on the Allkem and recently upgraded its shares to an add rating with a $13.25 price target. The broker notes that the company is its “preferred stock for lithium exposure.” This is due to it having a “strong December quarter and a long growth runway.” The Allkem share price was fetching $9.04 at Friday’s close.

BHP Group Ltd (ASX: BHP)

Another ASX 200 mining share to look at is BHP. It is one of the world’s largest mining companies with a collection of world class operations across a number of regions and commodities.

BHP’s operations span across Petroleum, Potash, Copper, Iron ore, Coal and Nickel. And while the company is in the process of spinning out its petroleum assets via a merger with Woodside Petroleum Limited (ASX: WPL), shareholders will be given a slice of the new company.

In addition, the Big Australian has been tipped to go on an M&A spree now that it has freed up capital following its unification. This could be supportive of earnings and dividend growth in the coming years.

The team at Macquarie is very positive on BHP. It has an outperform rating and $51.00 price target on the company’s shares.

In addition, the broker expects some generous dividend payments over the next couple of years. It has pencilled in fully franked dividends of ~$3.59 in FY 2022 and ~$2.62 in FY 2023. Based on the current BHP share price of $46.92, this will mean yields of 7.6% and 5.6%, respectively.

The post Analysts name 2 ASX 200 mining shares to buy in February appeared first on The Motley Fool Australia.

More reading

• These 3 ASX 200 shares are topping the volume charts this Friday
• Is the BHP (ASX:BHP) share price a buy in all of this volatility?
• Why is the BHP (ASX:BHP) share price leaping ahead today?
• 2 ASX shares to guide you out of this bloodbath: expert
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Motley Fool contributor James Mickleboro owns Allkem. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Life360 Inc (ASX: 360) share price was one of the best performers on the Australian share market in 2021.

Unfortunately, in 2022 it has been among the worst performers. Since the start of the year, the Life360 share price has lost 21% of its value due to broad weakness in the tech sector.

Is the Life360 share price good value now?

While the weakness in the Life360 share price is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

In fact, if Bell Potter is on the money with its recommendation, there could be some significant upside for investors over the remainder of 2022.

According to a note this week, the broker has retained its buy rating with a trimmed price target of $13.50.

Based on the current Life360 share price of $7.64, this implies potential upside of 77% over the next 12 months.

What did the broker say?

Bell Potter has been running the rule over Life360’s fourth quarter update and liked what it saw.

The broker commented: “Life360 reported a strong 4Q2021 with q-o-q increases of 5% in global monthly active users to 35.5m (vs BP forecast 35.6m), 11% in global paying circles to 1.23m (vs BP forecast 1.15m) and 19% in revenue to US$35.0m (vs BP forecast US$33.5m). The company also met or exceeded all of its key guidance metrics.”

And while the broker has reduced its price target on the Life360 share price, it has only done this out of conservatism and not because it is becoming less bullish.

Its analysts explained: “We have updated each valuation used in the determination of our forecasts for the modest changes in our forecasts as well as recent market movements. We have also decreased the premium applied in the EV/Revenue valuation from 40% to 30% just for conservatism. The net result is a 10% decrease in our PT to $13.50 which is still a material premium to the share price and we maintain our BUY recommendation.”

The post Broker says Life360 (ASX:360) share price has ~80% upside appeared first on The Motley Fool Australia.

More reading

• Brokers name 3 ASX shares to buy today
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• 2 ASX growth shares analysts love
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Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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