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These ASX mining, tech, and bank shares could be buys in 2022

These ASX shares could be buys in 2022…
The post These ASX mining, tech, and bank shares could be buys in 2022 appeared first on The Motley Fool Australia. –

The Australian share market is home to a number of companies across various sectors.

Listed below are three ASX shares from very different sectors that have been named as buys for 2022. Here’s what you need to know about them:

Allkem Ltd (ASX: AKE)

The first ASX share to buy in 2022 is Allkem. It is the result of the merger of Galaxy Resources with Orocobre earlier this year, which created a top five global lithium mining company. Thanks to its world class operations in Argentina and Western Australia, Allkem is benefiting greatly from sky high lithium prices. And with the team at Macquarie expecting prices to remain at record highs for the next four years, it looks well-placed for growth as its production ramps up. Macquarie currently has an outperform rating and $13.60 price target on its shares.

Westpac Banking Corp (ASX: WBC)

Another ASX share that has been tipped as a buy is Westpac. While this banking giant’s near term outlook is undoubtedly softer than previously anticipated, the team at Morgans believe it is worth sticking with the company. The broker also believes recent weakness in the Westpac share price has left it trading at a very attractive level. As a result, Westpac is Morgans top pick among the big four right now. The broker has an add rating and $29.50 price target on its shares.

Xero Limited (ASX: XRO)

A final ASX share rated as a buy is Xero. It is a provider of a cloud-based business and accounting solution to small and medium sized businesses. The team at Goldman Sachs believe it could be a great option for investors, especially those looking for long term investments. This is due to its belief that Xero is well-placed to deliver strong revenue growth over multiple decades. Goldman expects this to be underpinned by its international expansion, acquisitions, the transition to the cloud, and the monetisation of its app ecosystem. The broker currently has a buy rating and $158.00 price target on its shares.

The post These ASX mining, tech, and bank shares could be buys in 2022 appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

ASX 200 falls on Friday but records 13% gain in 2021

Morgans names 2 blue chip ASX 200 shares to buy

Is the Westpac (ASX:WBC) share price a buy for dividends?

What’s the outlook for ASX lithium shares in 2022?

Christmas highs: 3 ASX 200 shares hitting record highs today

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