Whether it's socks or stocks, I like buying good-quality products when they're on sale (think cheap Australian shares!). Prudent brokers and investors are always on the hunt for undervalued investment opportunities, and there's never been a better time for those seeking to 'buy a dollar coin for 50 cents'. This crowd of is a contrarian bunch who aren't afraid to seek out and buy assets at cheap prices.
Two ASX shares, ( ) and ( ), have caught the attention of brokers for their cheap valuations and upside potential. Here's a look. Cheap Australian shares for the Christmas list If Santa Claus really is coming to town, then it's cheap Australian shares on the list for me.
And by cheap, I'm talking about shares with plenty of upside potential. First up is Medibank Private, the health insurer. Medibank shares have been under pressure in recent months, sliding from highs of $3.
99 in September. Zooming out, the stock has been ever since last year's widely publicised data breach. This was compounded by its In FY24, Medibank reported a nearly 5% increase in revenues to just over $8 billion, driven by a 4% rise in premium income from its core Health Insurance business.
However, resident policyholder growth of 70 basis points fell well short of management's 1.5%–2% target. Despite this, some analysts see upside potential.
Consensus estimates peg the private health insurer's FY25 earnings at 23 cents per share, an 18% improvement year on year. The median estimate rates Medibank a buy, .