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2 buy-rated ASX dividend shares with big yields and huge upside potential

Here are two dividend shares with big yields and plenty of upside potential…
The post 2 buy-rated ASX dividend shares with big yields and huge upside potential appeared first on The Motley Fool Australia. –

Are you looking for ASX dividend shares to buy? If you are, then you may want to look at the shares listed below.

Here’s why these ASX dividend shares could be in the buy zone right now:

Super Retail Group Ltd (ASX: SUL)

The first ASX dividend share to look at is Super Retail. It is the retail conglomerate behind the popular BCF, Macpac, Rebel, and Super Cheap Auto brands.

While trading conditions have been tough in FY 2022 because of COVID enforced store closures and Super Retail is largely expected to post an earnings decline with its half year results, the long term remains very positive.

It is for this reason that the team at Citi has a buy rating and $16.00 price target on its shares. This compares very favourably to the latest Super Retail share price of $11.31.

As for dividends, the broker expects fully franked dividends per share of 67 cents in FY 2022 and then 64.5 cents in FY 2023. This will mean yields of 5.9% and 5.7%, respectively.

Citi also sees meaningful upside for the Super Retail share price. It has a buy rating and $16.00 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share that could be in the buy zone right now is Westpac. Especially after the shares of Australia’s oldest bank dropped to a 52-week low earlier this week.

The team at Morgans certainly believe this is a buying opportunity. The broker recently put an add rating and $29.50 price target on the bank’s shares. This implies potential upside of over 40% over the next 12 months.

The broker also believes there will be some big dividend yields coming for income investors in the coming years. It has pencilled in fully franked dividends per share of $1.23 in FY 2022 and then $1.62 in FY 2023. Based on the current Westpac share price of $20.21, this will mean yields of 6.1% and 8%, respectively.

The post 2 buy-rated ASX dividend shares with big yields and huge upside potential appeared first on The Motley Fool Australia.

Should you invest $1,000 in Westpac right now?

Before you consider Westpac, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Westpac wasn’t one of them.

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*Returns as of January 13th 2022

More reading

Why Westpac (ASX:WBC) and these other ASX shares are trading at 52-week lows

What’s happening to ASX bank shares today?

Here’s when Westpac (ASX:WBC) expects the RBA to raise the cash rate

2 buy-rated ASX 200 dividend shares with great yields

Westpac (ASX:WBC) share price in focus after raising loan interest rates again

Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Super Retail Group Limited. The Motley Fool Australia owns and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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