Could ASX retail shares be the best ASX shares to own right now?
Lina Lim | December 17, 2020 9:22am |
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The Australian economy has shown further signs of recovery as its retail sector bounces back to pre-COVID levels.
October retail trade estimates of turnover and volumes for retail businesses, including store and online sales, rose 1.4% month-on-month or 7.1% higher compared to October 2019. The resilience and recent strength of retailers has drawn a series of broker upgrades. Here are the ASX200 shares that have been upgraded this week.
Harvey Norman Holdings Limited (ASX: HVN)
Credit Suisse raised its Harvey Norman share price target from $5.06 to $5.30 with an outperform rating. This represents a 16% upside to its closing price on Wednesday of $4.570. The broker predicts that the work from home trend will stick and provide further upside potential to earnings.