Many ASX shares are rated as a buy by at least one broker. However, there are a select group that are currently liked by a number of brokers at the same time.
If plenty of brokers like a business at the current valuation then that may indicate that they are opportunities. These brokers are constantly on the lookout for good value ASX shares that may be good buys.
However, there's a potential risk that all of the brokers are wrong at the same time.
With that in mind, here are two ASX shares that may be ideas to consider:
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Audinate Group Ltd (ASX: AD8)
Audinate is a business that offers a solution called Dante, which is audio over IP networking. The company claims it's a worldwide leader and used extensively in the professional live sound, commercial installation, broadcast, public address and recording industries.
It replaces traditional analogue cables by transmitting synchronised audio signals across large distances to multiple locations at once, using just an ethernet cable.
Despite the very large disruption that COVID-19 has caused to a large number of Audinate's clients, the company delivered a high level of growth in FY21. Revenue rose 22.5% to US$25 million, gross profit increased 23.1% to US$19.2 million, earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 50.1% to A$3 million and operation cashflow rose 40% to A$6.7 million.
The FY21 net loss after tax also improved 17% to A$3.4 million.
It has launched Dante Video, which it sees as an important phase of growth when combined with Dante audio.
In FY22 the ASX share is expecting to launch more products, improving non-English speaking adoption, increasing cyber protection and implementing business scalability initiatives.
Audinate is currently rated as a buy by at least three brokers, including UBS. One reason for the $11.75 price target is the potential growth of Dante video which may lead to a growing market share.
Telstra Corporation Ltd (ASX: TLS)
The telco is another business that is well-liked by brokers at the moment after a difficult few years.
It is rated as a buy by at least four brokers, including Morgan Stanley with a price target of $4.50. The broker thinks it's a good thing that Telstra is going to return to profit growth in the next few years.
According to Morgan Stanley, the Telstra share price is valued at 28x FY22's estimated earnings.
Telstra recently released its T25 strategy update to the market. In that it said that it aimed 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 telco also said that it's going to seek to grow its dividend over time, with increasing earnings. This could be helped by a further reduction of $500 million of net fixed costs from FY23 to FY25.
Telstra is also looking to improve its 4G and 5G network coverage for customers, whilst also increasing its number of Telstra Plus members to 6 million by FY25.
At the current Telstra share price, it has a grossed-up dividend yield of 5.9%.
