If you're looking to boost your passive income, then you may want to look at the shares listed below.
Here's why these ASX dividend shares have been tipped as buys by Goldman Sachs:
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Accent Group Ltd (ASX: AX1)
This footwear and youth apparel retailer could be a dividend share to buy, according to Goldman Sachs.
Its analysts are positive on the company due to its strong market position and exposure to younger consumers. It notes that the latter are well-placed to keep spending in the current environment due to a rise in the minimum wage and lower exposure to rising interest rates.
It ultimately expects this to underpin the payment of fully franked dividends of 10.2 cents per share in FY 2023 and 11.4 cents per share in FY 2024. Based on the current Accent share price of $1.72, this will mean yields of 5.9% and 6.6%, respectively.
Goldman has a buy rating and $2.20 price target on the company's shares.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend share that Goldman Sachs is a fan of is HomeCo Daily Needs. It is a property investment company with a focus on metro-located, convenience-based assets across neighbourhood retail, large format retail, and health and services.
Goldman is positive on the company's outlook due to the shift to omnichannel retailing and additional external growth opportunities.
Its analysts also believe HomeCo Daily Needs' shares are undervalued at the current level, given this positive outlook and its diversified tenant base. As a result, they have put a buy rating and $1.57 price target on them.
In respect to dividends, the broker is forecasting dividends of 8.3 cents per share in FY 2023 and 8.5 cents per share in FY 2024. Based on the current HomeCo Daily Needs REIT unit price of $1.31, this will mean yields of 6.3% and 6.5%, respectively.
