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Looking to buy some stocks to help you sleep better at night? Then, grab your pillow and cup of hot cocoa because we asked our Foolish writers which defensive ASX shares they think could deliver some sweet financial dreams right now.

Here is what the team came up with:

7 best defensive ASX shares for May 2023 (smallest to largest)

• The Reject Shop Ltd (ASX: TRS), $174.44 million
• Super Retail Group Ltd (ASX: SUL), $2.9 billion
• Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), $11.51 billion
• Coles Group Ltd (ASX: COL), $24.21 billion
• Newcrest Mining Ltd (ASX: NCM), $26.47 billion
• Transurban Group (ASX: TCL), $45.25 billion
• Wesfarmers Ltd (ASX: WES), $58.4 billion

(Market capitalisations as at market close of 9 May 2023).

Why our Foolish writers love these defensive ASX stocks

The Reject Shop Ltd

What it does: The Reject Shop is an Australian discount variety retailer. The company offers a range of consumer goods and merchandise at the lower end of the price spectrum.

By Bernd Struben: Inflation is still at 7% and likely to remain elevated into 2025. The RBA unexpectedly raised rates again last week. And I expect consumers will start feeling the pinch in earnest over the coming months.

That could offer some sales tailwinds for the Reject Shop’s low-priced merchandise. In its latest half-year results, the company reported a 3.5% year-on-year increase in sales and a 6.2% increase in net profits over the six months.

This is a small-cap ASX share for a defensive play. But I think consumers looking to stretch their dollar will support the share price. Shares are up 21% over the past 12 months. Management is hoping to return to paying regular dividends in the near future.

Motley Fool contributor Bernd Struben does not own shares in The Reject Shop Ltd.

Super Retail Group Ltd

What it does: Super Retail Group is a retail conglomerate housing four iconic brands that millions of Australians know and love – Supercheap Auto, Rebel, BCF, and Macpac. The company operates through an omnichannel approach across Australia, New Zealand, and Asia.

By Mitchell Lawler: If I’m looking to add a quality defensive stock to my portfolio, there are three criteria the company needs to meet: it needs to have a strong moat, boast an ironclad balance sheet, and be (at least somewhat) non-cyclical. 

In my opinion, Super Retail Group ticks all three boxes. The company owns multiple brands with exceptional recognition, operates through an enviable distribution network of more than 700 stores, and has a loyalty program with 9.7 million active members – these are all forms of a moat. 

Furthermore, the business is fortified with a clean balance sheet – zero debt and $212 million in cash at the end of 2022. That gives me confidence in Super Retail Group’s ability to ride out some challenging conditions. 

Lastly, I believe the stock is defensive in nature due to the necessity of transportation these days. The average vehicle age might surge as people clamp down on costs. This could drive increased demand for Supercheap’s replacement auto parts and accessories. 

Motley Fool contributor Mitchell Lawler does not own shares in Super Retail Group Ltd.

Washington H. Soul Pattinson and Co. Ltd

What it does: Soul Patts is an investment house and one of the oldest companies on the S&P/ASX 200 Index (ASX: XJO). It boasts a diversified portfolio of listed and private equities, property, and loans.

By Brooke Cooper: Investment house Soul Patts aims to hold a portfolio capable of outperforming the market over the longer term, no matter the economic environment. And it’s been successful historically.

The company’s flexible investment mandate has helped its share price soar nearly 490% over the last 12 years. That’s compared to a 150% rise in the All Ordinaries Index (ASX: XAO) over the same period.

The investment house has also upped its dividend every year since 2000. It currently boasts a 2.5% dividend yield.

Of course, past performance isn’t an indicator of future performance. But I think the built-in diversification and defensive nature of Soul Patts’ portfolio make it an attractive defensive ASX share to buy this month.

Motley Fool contributor Brooke Cooper does not own shares in Washington H. Soul Pattinson and Co.

Coles Group Ltd

What it does: Coles is one of the big two supermarket operators in Australia, with a growing collection of supermarkets and convenience stores.

By James Mickleboro: I believe Coles would be a great option for investors looking for defensive ASX shares in May.

Supermarkets play a vital role in our economy, regardless of conditions, and have the ability to pass on the effects of inflation to their customers. 

Furthermore, Coles has a strong market position and is investing heavily in automation. The latter is expected to make its operations more efficient and boost its online business.

All in all, I think this leaves Coles well-placed to grow its earnings and dividend at a decent rate long into the future, whatever happens in the economy. 

Motley Fool contributor James Mickleboro does not own shares in Coles Group Ltd.

Newcrest Mining Ltd

What it does: Newcrest Mining is the ASX’s largest gold mining company. It has extensive, long-life mines across Australia, as well as in Papua New Guinea and Canada.

By Sebastian Bowen: When it comes to defensive investing, I believe gold (and by extension, gold miners) can play a useful role.

As we have seen in 2023, gold prices tend to rise whenever there is an increase in geopolitical or financial instability. Many experts also believe gold is an effective inflation hedge.

Thus, having exposure to gold right now could be an effective way of hedging an ASX share portfolio against all kinds of threats.

If we end up seeing a recession this year or next, an ASX 200 gold stock could provide a valuable cushion.

It’s my opinion that Newcrest is an ideal candidate for this role, considering its size, scale, long mine life, and high gold reserves. Newcrest shares also pay a modest dividend too.

Motley Fool contributor Sebastian Bowen owns shares in Newcrest Mining Ltd.

Transurban Group

What it does: Transurban is one of the world’s largest toll road operators. It owns 17 roads in Australia, five in the United States, and one in Canada.

By Bronwyn Allen: Transurban recently released its Q3 FY23 traffic update and reported a record quarter, with average daily traffic of 2,397,000 trips. While you’d expect a year-over-year increase due to the end of COVID lockdowns (up 12.9% on Q3 FY22), a record quarter indicates more people are using their cars and that new roads in Transurban’s portfolio are boosting business.

The latter includes Sydney’s WestConnex M4-M8 link, which opened on 20 January and has seen usage exceed expectations.

One of the key reasons I believe Transurban is such a great defensive ASX share is that many of its tolls are linked to inflation. During the quarter, Transurban raised its toll charges on Sydney’s WestConnex and M5 West by 6.1% and 2.3%, respectively.

The toll on Brisbane’s AirportLink M7 increased by 7.9%. In Melbourne, tolls increase by 1.05% per quarter.

This provides useful protection for the company’s income (and dividends) in an inflationary economy. 

Motley Fool contributor Bronwyn Allen does not own shares in Transurban Group.

Wesfarmers Ltd

What it does: Wesfarmers operates a variety of businesses, including Bunnings, Officeworks, Kmart, Target, Priceline, and Wesfarmers chemicals, energy and fertilisers (WesCEF).

By Tristan Harrison: Many of Wesfarmers’ businesses, such as Bunnings and Kmart, are market leaders and aim to provide customers with great value.

I believe that in today’s inflationary, high-interest environment, these offerings will continue to resonate with households and enable Wesfarmers to perform better than its rivals. This could make it a good ASX defensive share to buy right now.

I also like that the company is looking to expand through acquisitions, which could open more growth avenues or improve scale and market share.

Furthermore, once operational, the Mt Holland lithium project has the potential to help Wesfarmers further diversify and significantly grow its earnings. 

Overall, I like the longer-term outlook for Wesfarmers shares.

Motley Fool contributor Tristan Harrison does not own shares in Wesfarmers Ltd.

The post Top defensive ASX shares to buy in May 2023 appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Wednesday
• The Wesfarmers share price was in the red today despite green energy acquisition rumours
• Citi rates these ASX dividend shares as buys
• Which ASX retail shares could be ‘most impacted’ by Amazon’s rapid growth?
• 2 ASX dividend income beasts with impressive payout records

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Coles Group, Super Retail Group, Washington H. Soul Pattinson and Company Limited, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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On Tuesday, the S&P/ASX 200 Index (ASX: XJO) had an underwhelming session. The benchmark index fell 0.2% to 7,264.1 points.

Will the market be able to bounce back from this on Wednesday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall again on Wednesday following a poor night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% lower this morning. On Wall Street, the Dow Jones was down 0.2%, the S&P 500 fell 0.45% and the Nasdaq dropped 0.6%.

Oil prices push higher

It could be a positive session for ASX 200 energy shares such as Beach Energy Ltd (ASX: BPT) and Woodside Energy Group Ltd (ASX: WDS) after oil prices staged a remarkable recovery overnight. According to Bloomberg, the WTI crude oil price is up 0.6% to US$73.60 a barrel and the Brent crude oil price has risen 0.4% to US$77.33 a barrel. Oil prices were down over 2% before rebounding amid news that the U.S. government plans to refill the nation’s emergency oil reserves.

Federal budget

A number of ASX 200 shares will be in focus on Wednesday after the Labour government unveiled the federal budget. Among the winners could be Fortescue Metals Group Ltd (ASX: FMG), which looks set to benefit from green hydrogen support, and Wesfarmers Ltd (ASX: WES) for several reasons. Its Officeworks business could benefit from small businesses being able to write off the value of new equipment worth up to $20,000, whereas Kmart and Target could benefit from low-income support.

Gold price rises

Gold miners Evolution Mining Ltd (ASX: EVN) and Northern Star Resources Ltd (ASX: NST) will be on watch after the gold price rose overnight. According to CNBC, the spot gold price is up 0.45% to US$2,042.5 an ounce. Traders appear to be betting that today’s inflation reading causes rates to rise and volatility and recession risks to increase.

CBA shares rated as a sell

The Commonwealth Bank of Australia (ASX: CBA) share price could be overvalued according to Goldman Sachs. This morning, the broker has reiterated its sell rating and $87.78 price target on the banking giant’s shares. Goldman notes: “Cash profit from continuing operations in 3Q23 of c.A$2.6 bn was up 10% vs. 3Q22 and run-rating c.1% behind what is implied by our 2H23E forecasts.”

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

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More reading

• The Wesfarmers share price was in the red today despite green energy acquisition rumours
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• No savings at 40? Here’s how I’d aim to build a passive income of $3,000 a month
• What’s going wrong for ASX 200 share A2 Milk today?

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 Scott Phillips.

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S&P/ASX 300 Index (ASX: XKO) shares have returned an average of 18.8% over the past five years.

Of course, some stocks have exceeded those gains while others have lost value over this time.

Below, we look at three ASX 300 shares that would have turned a $5,000 investment into $59,000, or much more, in just five years.

Can I borrow the keys to the time machine please?

The first ASX 300 share that’s had an absolutely stellar run over the five years is Silex Systems Ltd (ASX: SLX).

The tech company is primarily focused on developing its unique SILEX laser uranium enrichment technology as the next-generation technology for the global uranium enrichment industry.

With some major successes along the way, the Silex share price has gained 1,080% over the past five years. That would have seen my $5,000 investment grow into a whopping $59,000 today.

At the current share price, Silex Systems has a market cap of $805 million.

But that’s not even the biggest gainer among ASX 300 shares.

Another stock I’d snap up five years ago if I had access to a functioning time machine is Telix Pharmaceuticals Ltd (ASX: TLX).

The commercial-stage biopharmaceutical company is focused on developing diagnostic and therapeutic products to treat cancerous or diseased cells using targeted radiation.

With its own list of successful milestones over the past five years, the Telix share price has soared 1,425%. Meaning if you’d invested $5,000 in the stock in May 2018, you’d now be sitting on $76,250.

At the current share price, Telix Pharmaceuticals has a market cap of $3.5 billion.

Which brings is to…

The ASX 300 share shooting for the sky

If the Telix share price gain still doesn’t quite do it for you, stay in the past for just a moment longer and turn your attention to Liontown Resources Ltd (ASX: LTR).

Perhaps the best-known name on this list of top share gainers, Liontown is a mineral exploration and development company. In recent years, its primary focus has been developing high-quality lithium and tantalum projects in Western Australia.

Atop the miner’s exploration successes, the Liontown share price has enjoyed some gale force tailwinds amid rocketing lithium prices over the past few years. Prices for the battery-critical metal reached all-time highs late in 2022.

The ASX 300 share received another big boost this March after it received, and rejected, a takeover offer from NYSE-listed lithium giant Albemarle.

That’s helped propel the Liontown share price to an eye-popping gain of 9,500% in five years.

(Aren’t you glad you lingered in the past for another moment?)

That would see a $5,000 investment grow into a life-changing $480,000.

At the current share price, Liontown Resources has a market cap of $6.3 billion.

The post 3 ASX 300 shares that turned $5,000 into $59,000 or much more in 5 years appeared first on The Motley Fool Australia.

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More reading

• ASX lithium shares are off and racing today. What’s behind the boost?
• Why did ASX lithium shares dominate the market on Friday?
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 mining stocks leaping to new 52-week highs today
• Goldman Sachs is selling off its Liontown shares. Here’s the lowdown

Motley Fool contributor Bernd Struben 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 Scott Phillips.

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If you’re looking to bolster your portfolio with some new ASX 200 shares, then you may want to consider the two listed below. Both have recently been named as buys by analysts.

Here’s what they have to say about these ASX 200 shares:

Rio Tinto Ltd (ASX: RIO)

Rio Tinto shares could be a top option in the ASX 200 index right now if you’re not opposed to investing in the mining sector.

Goldman Sachs believes that Rio Tinto could be a great pick for investors. So much so, it has its shares on its coveted conviction list with a buy rating and $136.20 price target.

This compares favourably to the current Rio Tinto share price of $111.44. In addition, the broker is expecting fully franked dividend yields of 7.1% in FY 2023 and 6.2% in FY 2024, boosting the total return on offer nicely.

But why is Goldman so bullish? Well, it all comes down to its valuation, production growth, strong free cash flow, and dividend yields. The broker summarises:

We are Buy rated (on CL) on RIO due to: (1) compelling relative valuation vs. peers, (2) Strong FCF and dividend yield with our bullish view on iron ore, aluminium and copper prices, (3) Strong production growth in 2023 & 2024, (4) Pilbara turnaround (~50% of group NAV), (5) Compelling high margin low emission aluminium exposure.

Qantas Airways Limited (ASX: QAN)

Like Rio Tinto’s shares, this ASX 200 airline stock has been tipped to rise strongly from current levels.

This time it is the team at Morgans which is bullish. The broker has Qantas on its best ideas list with an add rating and $8.35 price target. This compares to the current Qantas share price of $6.39.

Morgans reveals that Qantas is its top pick in the travel sector due to its positive earnings outlook. The broker also highlights that its shares are trading at a sizeable discount to peers. It explains:

QAN is now our preferred pick of our travel stocks under coverage given it has the most near-term earnings momentum. Looking across travel companies globally, airlines are now in the sweet spot given demand is massively exceeding supply. QAN is trading at a material discount compared to pre-COVID multiples, despite having structurally higher earnings, a much stronger balance sheet, a better domestic market position, a higher returning International business and more diversification (stronger Loyalty/Freight earnings).

The post Rio Tinto and this ASX 200 share are strong buys: analysts appeared first on The Motley Fool Australia.

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More reading

• 5 reasons Rio Tinto shares could surge 21%
• Brokers say these ASX 200 mining shares are top buys
• Morgans names the best ASX 200 blue chip shares to buy in May
• Is the Qantas share price at risk over the airline’s $12 billion renewal plans?
• Why the iron ore price is ‘not out of the danger zone’

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 Scott Phillips.

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Are you wanting to gain some exposure to the tech sector? If you are, then you might want to consider the two tech shares named below that Goldman Sachs is recommending as buys.

Especially with the broker tipping major upside potential ahead for their shares. Here’s what it is saying:

Life360 Inc (ASX: 360)

This location technology company is highly rated by analysts at Goldman Sachs. The broker has a buy rating and $7.85 price target on the ASX tech share.

Based on the current Life360 share price of $5.52, this implies potential upside of 42% for investors over the next 12 months.

Goldman highlights that its shares have undeservedly underperformed peers this year, which it feels has created a buying opportunity. Particularly given its high growth outlook and latent operating leverage. It explains:

Life360 has underperformed domestic and offshore peers YTD and continues to trade at a material valuation discount when adjusting for its robust growth outlook. The company is trading at ~2.7x FY24 EV/GP (vs ~6x key peers) and we believe reaching break-even and demonstrating resumption in paying circle growth can serve as catalysts to refocus investor attention on Life360’s strong balance sheet, high growth outlook and latent operating leverage. Our estimates and A$7.85/CDI TP are unchanged, and we reiterate Buy.

Temple & Webster Group Ltd (ASX: TPW)

Another ASX tech share that Goldman Sachs is bullish on is Temple & Webster.

It currently has a conviction buy rating and $6.10 price target on the online furniture retailer’s shares. This suggests that its shares could rise approximately 60% from current levels.

Goldman believes that the company’s position as the largest pure-play online home retailer leaves it perfectly placed for the future thanks to structural growth drivers. It said:

We see a long term structural growth opportunity driven by increasing online penetration and consolidation of online market share. We think TPW is best placed to be a winner in a category that favours scale players, requires a specialist approach to e-commerce and logistics, has higher barriers to entry vs. other categories. The category remains under-penetrated relative to other markets (16% vs. the UK/US at 25-30%) even after a large pull forward in online; we expect online penetration to reach similar levels over time and expect TPW to be a beneficiary of this shift. We are Buy rated (on CL) on the stock.

The post Goldman Sachs names 2 ASX tech shares to buy with massive upside appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today  
• Which ASX retail shares could be ‘most impacted’ by Amazon’s rapid growth?
• Here are the 10 most shorted ASX shares
• Brokers name 3 ASX shares to buy now

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360 and Temple & Webster Group. The Motley Fool Australia has recommended Temple & Webster Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re looking for exposure to the healthcare sector, then Ramsay Health Care Ltd (ASX: RHC) could be the way to do it.

That’s the view of analysts at Morgans, which see major upside ahead for this ASX 200 healthcare share.

What is the broker saying about this ASX 200 healthcare share?

In response to a recent trading update, the team at Morgans has retained its add rating with a slightly trimmed $75.57 price target.

Based on the current Ramsay share price of $60.58, this implies potential upside of 25% for this ASX 200 healthcare share over the next 12 months.

In addition, the broker is forecasting a 2.2% dividend yield over the next 12 months, boosting the total potential return on offer with its shares even further.

What did it say?

While the broker wasn’t blown away by Ramsay Health Care’s trading update, it was pleased with underlying trends. It explained:

A nine-month FY23 trading update highlighted improving volumes across all regions on increased surgical activity, although margins and profit lagged. While COVID-related headwinds are subsiding, labour shortages and inflationary pressures remain, dampening a full recovery in underlying profitability.

The good news is that Morgans expects these headwinds to ease in time and for its profits to rebound. It adds:

While the operating environment remains unpredictable and dynamic, with doctor/patient behaviour, inflation and workforce issues all defining the earnings profile, higher activity and improving (albeit slowly) productivity are suggestive of growing momentum.

All in all, the sum of the above is that the broker believes that this makes Ramsay an ASX 200 health care share to buy right now for patient investors.

The post Buy this ASX 200 healthcare share for a 25% return: broker appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 300 shares being bought up by insiders
• 4 ASX 200 shares just upgraded by brokers
• Why Amcor, oOh!Media, Ramsay, and Woodside shares are falling today
• 3 ASX 200 stocks getting hammered following trading updates
• CSL shares dip despite new FDA approval

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 Scott Phillips.

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The Wesfarmers Ltd (ASX: WES) share price declined 0.29% today amid the speculation that the ASX retail share is interested in making another acquisition.

Wesfarmers is best known for owning businesses like Bunnings, Kmart and Officeworks. But, it has a growing portfolio of businesses that are in other sectors. The Wesfarmers chemicals, energy and fertiliser (WesCEF) business is the home of a number of the compelling industrial areas of the business, including the lithium project at Mt Holland.

Takeover plans?

According to reporting by The Australian, Wesfarmers is one of the potential buyers of Alinta Energy’s Western Australia assets.

There could be synergy between the businesses considering Wesfarmers already operates Kleenheat which “produces, imports and distributes liquefied petroleum gas (LPG) to residential and commercial markets across WA and NT through a comprehensive network of distribution centres and dealers, as well as retailing natural gas to residential and commercial markets, and electricity to businesses in WA”, according to Wesfarmers.

What are the Alinta assets that Wesfarmers may buy?

The Australian reported that it’s the majority of Alinta Energy’s Pilbara operations. Alinta will reportedly retain operational control and a minority stake.

Newman Power Station may be viewed as the key asset, which has a gas and distillate power station, with a battery storage system.

There is also an 11.8% stake in the 1,380km Goldfields gas pipeline, which transports gas from the Carnarvon basin producers in the northwest of the state to Kalgoorlie in the southeast. APA Group (ASX: APA) owns the rest of that particular pipeline asset.

It was reported that the power station generates 15% of Alinta’s earnings before interest, tax, depreciation and amortisation (EBITDA). It’s currently gas and diesel-powered, but it is being sold to investors with the idea that it can be powered by cleaner fuel.

Is anyone else interested?

The Australian reported that there are a number of different interested parties including private equity players Pacific Equity Partners and EQT, as well as Gina Rhinehart, CKI, Queensland Investment Corporation, APA Group, Andrew Forrest and Macquarie Group Ltd (ASX: MQG).

So, while there is a lot of competition, it was reported that APA is “highly motivated” to try to win the asset.

Foolish takeaway

Time will tell which group is successful in buying these assets. But, if it is Wesfarmers, then that will diversify the company’s earnings even more, which could be a benefit for the Wesfarmers share price.

The post The Wesfarmers share price was in the red today despite green energy acquisition rumours appeared first on The Motley Fool Australia.

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More reading

• Which ASX retail shares could be ‘most impacted’ by Amazon’s rapid growth?
• Is Wesfarmers a diversified ASX 200 stock?
• Could Wesfarmers shares get a boost from further acquisitions?
• Dalio says US and China ‘on brink of war’. Which ASX shares could be impacted?
• 6 excellent ASX 200 dividend shares that aren’t banks or miners

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 has positions in and has recommended Apa Group, Macquarie Group, and Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The S&P/ASX 200 Index (ASX: XJO) slipped into the red on Tuesday, closing today’s session 0.17% lower at 7,264.1 points.

Weighing on the market was the S&P/ASX 200 Real Estate Index (ASX: XRE). It slumped 1.4% today.

It was also a rough session for the S&P/ASX 200 Information Technology Index (ASX: XIJ), which fell 0.7% on the back of disappointing performances from stock in BrainChip Holdings Ltd (ASX: BRN) and Megaport Ltd (ASX: MP1).

At the other end of the market, the S&P/ASX 200 Financials Index (ASX: XFJ) outperformed, rising 0.5%, while the S&P/ASX 200 Industrials Index (ASX: XNJ) lifted 0.3%.

But today’s top-performing ASX 200 share didn’t belong to either sector. Let’s take a look at what drove it to outperform all others on Tuesday.

Top 10 ASX 200 share countdown

The index’s biggest gain on Tuesday was posted by healthcare share Imugene Limited (ASX: IMU). The stock rose 8.7% today despite no word having been released by the company.

These shares made today’s biggest gains:

ASX-listed company	Share price	Price change
Imugene Limited (ASX: IMU)	$0.125	8.7%
Mineral Resources Ltd (ASX: MIN)	$73.50	2.93%
Worley Ltd (ASX: WOR)	$16.47	2.87%
Allkem Ltd (ASX: AKE)	$12.83	2.8%
Macquarie Group Ltd (ASX: MQG)	$177.43	2.27%
BlueScope Steel Limited (ASX: BSL)	$20.22	2.07%
Insignia Financial Ltd (ASX: IFL)	$3.06	2%
Pilbara Minerals Ltd (ASX: PLS)	$4.69	1.96%
Hub24 Ltd (ASX: HUB)	$27.73	1.91%
Champion Iron Ltd (ASX: CIA)	$6.65	1.53%

Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Tuesday
• Why Arafura Rare Earths, Imugene, Pilbara Minerals, and Worley are charging higher
• 2 ASX All Ords shares defying Tuesday’s slump to crack multi-year highs
• What’s with ASX 200 lithium stocks today?
• No savings at 40? Here’s how I’d aim to build a passive income of $3,000 a month

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24 and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Hub24 and Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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The good news for income investors is that there are a lot of dividend shares to choose from on the ASX.

But if you’re paralysed by choice, don’t worry because listed below are a couple of ASX dividend shares that come highly recommended and have big forecast dividend yields.

Here’s why analysts are tipping these shares as buys:

Charter Hall Retail REIT (ASX: CQR)

The first ASX dividend share that could be a buy is the Charter Hall Retail REIT.

As you might have guessed from the name, this property company has a focus on retail assets. These are predominantly supermarket anchored neighbourhood and sub-regional shopping centres.

The team Citi is positive on the company. This is due to its “defensive net property income growth despite rising interest rate profile.” The broker also highlights how Charter Hall Retail REIT is “effective at passing through higher inflation”, which is a positive in the current environment.

Citi currently has a buy rating and $4.50 price target on its shares.

As for dividends, Citi is expecting the company to pay dividends of 26 cents per share in both FY 2023 and FY 2024. Based on the current Charter Hall Retail share price of $3.82, this will mean 6.8% dividend yields for investors.

Dicker Data Ltd (ASX: DDR)

Another ASX dividend share that has been named as a buy is Dicker Data.

It is one of the largest distributors of computer hardware and software in the ANZ region.

Morgan Stanley is a fan of the company and currently has an outperform rating and $10.00 price target. Its analysts are positive on Dicker Data’s outlook and are forecasting solid earnings and dividend growth in the near future.

In respect to the latter, the broker is expecting fully franked dividends per share of 43.8 cents in FY 2023 and 48.8 cents in FY 2024. Based on the latest Dicker Data share price of $8.40, this will mean dividend yields of 5.2% and 5.9%, respectively.

The post These ASX income shares have very big forecast dividend yields appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 300 shares being bought up by insiders
• Brokers say buy these ASX dividend stocks for their big fully franked yields
• Passive income alert! Experts say buy these ASX dividend shares with big and growing yields
• Why Citi says these ASX 200 dividend shares are buys
• Are these ASX All Ords shares ready to buy at fundamentally fire sale prices?

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 positions in and has recommended Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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If you’re a fan of growth stocks like I am, then I have good news for you.

A couple of high quality shares with bags of growth potential have recently been named as buys. Here’s why brokers are bullish on them:

Breville Group Ltd (ASX: BRG)

Goldman Sachs has named this appliance manufacturer as an ASX growth stock to buy.

The broker is very positive on the company and highlights that it is exposed to some powerful trends. This includes the at-home coffee market, which Breville has material exposure to following some recent acquisitions.

Combined with its international expansion and ongoing research and development investment, Goldman believes Breville can grow its revenue and EBITDA by a compound annual growth rate of 7.6% and 11.1%, respectively, between FY 2022 and FY 2025. Not bad given the tough economic environment it is operating in.

Goldman has a buy rating and $22.70 price target on the company’s shares.

Corporate Travel Management Ltd (ASX: CTD)

Over at Morgans, its analysts are bullish on this corporate travel booker and have named it as an ASX growth stock to buy.

The broker believes Corporate Travel Management is well-placed for growth over the medium term thanks to acquisitions, its lower cost base, and technology development.

It highlights that “CTD should be a materially larger business post COVID given it has made two highly accretive acquisitions during the downturn. The company has also won a lot of new business, implemented structural cost-out opportunities and continued to develop its market-leading technology.”

Morgans currently has an add rating and $24.00 price target on its shares.

The post Buy these top ASX growth stocks: experts appeared first on The Motley Fool Australia.

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More reading

• ‘We’ve learnt the hard way’: 3 ASX shares that can grow in tough times
• Here are the top 10 ASX 200 shares today
• 2 ASX travel shares poised for a massive 2023
• Why analysts are bullish on these ASX 200 growth shares
• These were the best-performing ASX 200 shares in April

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 Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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