Are you looking for some promising ASX shares that have taken a hit recently? The (ASX: XJO) has whipsawed sideways in the last three months, opening up the window for some potential bargains. Investors might find it useful to know that fund managers are eyeing three beaten-up stocks: ( ), ( ), and ( ). Let's dive into why these shares are catching the attention of savvy investors.
Telstra might be an undervalued ASX share Telstra shares have dropped 18% in the past year, swapping hands at $3.55 apiece at the close of trading on Thursday. The telco giant recently announced causing shares to dip further in late May.
Some fund managers believe this presents a buying opportunity. Allan Gray chief investment officer Simon Mawhinney noted the fund liked Telstra at its current valuations. "I think this is one of the first times in 10 or 15 years that you've been able to buy Telstra at a not unreasonable price", he told The reporting notes Allan Gray has owned the ASX share since Q1 this year.
, with a price target of $4.25 per share, according to my colleague James. The broker forecasts dividends of 18 cents per share in FY 2024 and 18.
5 cents per share in FY 2025. Is Worley a diamond in the rough? Worley shares have seen a bumpy ride in 2024. They are currently trading at $14.
53 apiece, down 17% since January 1. In April, the company's largest shareholder, Sidara, , causing shares to drop sharply. Despite this, fund managers see plenty of upside in this engineering giant.
Hamish T.
