These dirt cheap ASX dividend stocks could rise 25% to 30%

MotleyFool
07-09

Are you looking for some ASX dividend stocks to buy in July? If you are, then check out the three listed below.

That's because these dirt cheap stocks could be top picks right now according to brokers. Here's what they are expecting from them:

Accent Group Ltd (ASX: AX1)

It has been a disappointingly difficult year for Accent Group. The leading footwear retailer, which owns brands such as Hype DC, Platypus, and The Athlete's Foot, has struggled with weak consumer spending.

But with its shares down in the dumps, Bell Potter thinks it could be a good time to buy this ASX dividend stock. Especially given its view that the selling has been overdone and falling interest rates could support an improvement in its performance.

In addition, it continues to forecast attractive dividend yields in the near term. It is expecting fully franked dividends of 7.4 cents per share in FY 2025 and then 9.5 cents per share in FY 2026. Based on its current share price of $1.48, this equates to dividend yields of 5% and 6.4%, respectively.

Bell Potter has a buy rating and $1.90 price target on its shares. This implies potential upside of 28% for investors.

IPH Ltd (ASX: IPH)

Over at Morgans, its analysts think that IPH could be an ASX dividend stock to buy this month. It is an intellectual property (IP) services company operating a number of brands. This includes AJ Park, Smart & Biggar, and Spruson & Ferguson.

Morgans believes that its shares are undervalued at current levels, which could make it a good option for patient income investors. It points out that "IPH's valuation is undemanding (~10.8x FY25F PE), however investor patience is required given the delivery of organic growth looks to be the catalyst for a re-rating."

As for dividends, the broker is forecasting fully franked payouts of 35 cents per share in FY 2025 and then 36 cents per share in FY 2026. Based on the current IPH share price of $4.82, this will mean dividend yields of 7.3% and 7.5%, respectively.

Morgans currently has an add rating and $6.30 price target on its shares. This suggests that upside of 30% is possible from current levels.

Treasury Wine Estates Ltd (ASX: TWE)

Finally, Treasury Wine could be another ASX dividend stock to buy according to analysts at Morgans.

It is the wine company behind the popular Penfolds brand, among countless other names.

Morgans remains positive on the company despite the tough trading conditions it is facing. It highlights that "while not without risk given industry and macro headwinds, TWE's trading multiples look far too cheap (FY25/26 PE of only 13.6/12.6x) and we maintain a BUY rating."

As for income, the broker is forecasting partially franked dividends of 39.5 cents in FY 2025 and then 42.3 cents in FY 2026. Based on its current share price of $8.07, this would mean dividend yields of 4.9% and 5.25%, respectively.

Morgans has a buy rating and $10.25 price target on its shares. This implies potential upside of 27% for investors.

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