There are a lot of ASX dividend shares to choose from on the Australian share market. But which ones could be buys this week?
Two that analysts have slapped buy ratings on are listed below. Here's what they are saying about them:
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Australia and New Zealand Banking Group Ltd (ASX: ANZ)
The first ASX dividend share that could be a buy is ANZ Bank.
It is of course one of the big four banks, providing a range of banking and financial products and services to retail, small business, corporate, and institutional clients.
It is the latter that makes it a dividend share to buy now according to analysts at Goldman Sachs. It believes that "current market competitive dynamics which should continue to be a relative tailwind for Institutional NIMs."
Goldman expects this to support fully franked dividends of $1.62 per share in FY 2023 and FY 2024. Based on the current ANZ share price of $25.66, this will mean yields of 6.3%.
The broker currently has a buy rating and a $27.25 price target on the bank's shares.
Universal Store Holdings Ltd (ASX: UNI)
Another ASX dividend share that analysts are tipping as a buy is youth fashion retailer Universal Store.
Morgans is feeling very positive about the company's long-term outlook thanks to its expansion plans and exposure to younger consumers. In fact, its analysts believe "UNI's attractive array of medium-term growth prospects is undervalued at a single digit FY25 P/E."
The broker expects this to put the company in a position to pay fully franked dividends of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on the latest Universal Store share price of $3.46, this equates to yields of 7.5% and 8.4%, respectively.
Morgans has an add rating and a $4.25 price target on its shares. This implies approximately 23% upside on top of its big yields.
