Seeking budget-friendly ASX shares? Check out two trading at bargain prices

November 02, 2023 07:23 PM AEDT | By Team Kalkine Media

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Seeking budget-friendly ASX shares? Check out two trading at bargain prices — Image source: shutterstock

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If you're seeking budget-friendly ASX growth shares, there are a couple of high-quality options trading at what one expert calls "bargain prices." The recent downturn in the ASX 200 has created buying opportunities for investors looking to add quality stocks to their portfolios or reduce their dollar-cost averages. Two such ASX shares mentioned are Goodman Group (ASX: GMG) and Orora Ltd (ASX: ORA).

Goodman Group is a diversified global property investment company with a strong focus on industrial property, including warehouses serving e-commerce businesses. Despite the recent market sell-off, the Goodman Group share price has been performing well, currently trading at $21.83. It's up 26% in 2023 and is trading at a P/E ratio of 25 times. The company's new data center strategy announced in August is expected to underwrite its earnings growth in the coming years.

Orora Ltd, a global packaging manufacturer, is another ASX 200 growth stock trading at historically low valuations. The Orora share price is currently at $2.48, with a P/E ratio of 12 times. According to experts, the recent acquisition of Saverglass and the potential synergies and growth opportunities it offers, combined with the anticipated removal of Chinese tariffs on Australian wine, make Orora a budget-friendly option for investors.

It's worth noting that these stocks are suggested as potential opportunities for investors looking for value in a market that has experienced a recent downturn, but investors should conduct their own research and consider their individual financial goals and risk tolerance before making investment decisions.

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