New COVID-19 Delta cases across the country are clouding the ASX bull market, but this could be an opportunity to pick up the latest buy ideas from leading brokers.
The S&P/ASX 200 Index (Index:^AXJO) started the trading day with a 0.1% dip as investors weigh up the latest infections in Victoria and South Australia.
But as with other outbreak scares, any sell-down in the market has given investors a chance to buy the dip.
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Good pickings for value investors
Those hunting for such opportunities may want to put the Nufarm Ltd (ASX: NUF) share price on their watchlist.
The seed and crop protection supplier just got upgraded to "buy" from "hold" by Bell Potter.
"Since reporting a stronger than expected 1H21 result, but cautious guidance, the share price of NUF has retraced ~20% from its high," said the broker.
"However, in general, crop condition have [sic] remained favourable."
ASX shares upgraded to "buy" on appealing valuation
There are no areas of concern in Nufarm's key market in Europe. Australia is also looking positive with good soil moisture supporting forecasts that our winter crops will be the best in 20 years.
Meanwhile, the Australian dollar is poised to give the Nufarm share price an extra boost.
"80-85% of FY20-21e crop protection earnings are generated in currencies other than the AUD," said Bell Potter.
"Since reporting 1H21 the AUD has weakened against the majority of NUF's functional currencies (USD, EUR & GBP)."
The broker's 12-month price target on the Nufarm share price is $5.30 a share.
Latest ASX shares to buy in the tech space
Meanwhile, the Nextdc Ltd (ASX: NXT) share price could also find favour. Wilsons initiated coverage on the datacentre operator with an "overweight" recommendation and $15.10 a share price target.
That leaves the NextDC share price with a near 30% upside!
The broker lists a few reasons why its bullish on the shares. The first is accelerating demand, which is helped by COVID-19.
Reasons to buy the NextDC share price
There's also the belief that NextDC's second-generation assets will contribute strongly to revenue growth from FY21 onwards.
The scale of the group's new generation datacentres is also larger than existing facilities. That could mean improved profitability along with revenue.
Just as importantly, Wilsons noted management's impressive track record.
"Over the past decade, NXT has created a solid track record of consistently meeting or beating its original or upgraded guidance in Australia, which is in the top 10 fastest growing digital infrastructure markets globally," added the broker.
