3 buy-rated ASX shares that just hit 52-week lows

These ASX shares may be down in the dumps but analysts rate them highly…

| More on:
share price plummeting down

Image source: Getty Images

With the market under significant pressure this month, a good number of shares are trading at 52-week lows.

While this is disappointing, analysts appear to believe it could be a buying opportunity for some of them. Here are three beaten down shares that brokers rate as buys:

Cochlear Limited (ASX: COH)

The Cochlear share price was out of form and sank to a 52-week low of $178.55 today before recovering slightly to end the session at $182.06.

The team at Credit Suisse are likely to see this recent share price weakness as a buying opportunity for investors. Earlier this week, the broker upgraded the hearing solutions company’s shares to an outperform rating with a $235.00 price target. Based on the current Cochlear share price, this implies potential upside of 29% over the next 12 months.

Harvey Norman Holdings Limited (ASX: HVN)

The Harvey Norman share price got caught up in the market selloff and tumbled to a 52-week low of $4.57 on Thursday before ending the day at $4.67.

Goldman Sachs believes there’s material upside for the retail giant’s shares from this level. The broker currently has a buy rating and $6.00 price target on its shares. This implies a potential return of 28% before dividends. Speaking of which, the broker is forecasting fully franked dividends yields of 7.7% over the next three financial years.

NEXTC Ltd (ASX: NXT)

The NEXTDC share price dropped to a 52-week low of $9.74 on Thursday before recovering slightly to $9.82.

This share price weakness could also be a buying opportunity for investors according to Goldman Sachs. Its analysts currently have a conviction buy rating and $14.40 price target on the data centre operator’s shares. This implies potential upside of 48% for investors over the next 12 months.

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 over ten 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 January 12th 2022

Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Cochlear Ltd. The Motley Fool Australia owns and has recommended Harvey Norman Holdings Ltd. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on 52-Week Lows

Zip share price Z1P A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price
52-Week Lows

Is the Zip share price set to hit another unhappy milestone this week?

Could the Zip share price slide below 90 cents?

Read more »

A man in business suit wearing old fashioned pilot's leather headgear, goggles and scarf bounces on a pogo stick in a dry, arid environment with nothing else around except distant hills in the background.
52-Week Lows

The Novonix share price just rebounded 13%. Is it a buy?

Novonix has had a very volatile day. Is the company worth buying?

Read more »

A man leaps from a stack of gold coins to the next, each one higher than the last.
Technology Shares

Why did the Xero share price just rebound 6%?

Xero shares have recovered from a 52-week low and are now in the green.

Read more »

Woman disappointed at share price performance with her hands on her face.
Technology Shares

Xero share price slumps to lowest price since 2020. Broker tips 50% upside

Xero shares have been exploring new depths today...

Read more »

A woman holds a piece of pizza in one hand and has a shocked look on her face.
52-Week Lows

The Domino’s share price just hit a 52-week low. Is it time to tuck into some?

Domino’s shares are down another 4%. Is the pizza business a buy?

Read more »

a person zips their jumprer completely over their head, covering their face and holds a hand to their head as if in despair.
BNPL shares

Zip share price slides another 5% to new multi-year low of $1

Wednesday was a rough day for Zip shares.

Read more »

Red arrow going down, symbolising a falling share price.
52-Week Lows

Is this opportunity knocking? 3 ASX shares hitting 52-week lows today

The All Ords is down and a bunch of ASX shares have hit 52-week lows. We profile three of them.

Read more »

a woman looks distressed as she stares dramatically at her phone watching the Megaport share price crashing today
Technology Shares

Here’s why the Megaport share price is tumbling 18% today

Top line growth was consistent throughout the quarter but ASX investors aren't impressed.

Read more »