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2 ASX shares looking cheap today

Sebastian Bowen
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Although the S&P/ASX 200 (INDEXASX: XJO) and the broader share market has seemingly shaken off the worries surrounding the coronavirus, we are still yet to surpass the high watermark that was set in January.

That means (in my view) that it might be a good time to seek out some bargains. The markets may strongly rebound in the coming months and it would be silly to get caught with too much cash (although I always advocate having a ‘buy-the-dip’ fund ready to go).

So with that said, here are 2 ASX shares that I think are looking cheap today and might make a great buy at current prices.

Washington H. Soul Pattinson & Co Ltd (ASX: SOL)

This company is usually known as just ‘Soul Patts’ and is one of the most diversified businesses on the ASX. It owns stakes in other ASX companies like TPG Telecom Ltd (ASX: TPM) and Brickworks Limited (ASX: BKW) as well as other off-market investments like retirement villages and farms.

Using these investments and a long-term mindset, Soul Patts has been able to grow its dividend every year since 2000 as well as provide significant capital appreciation.

Although Soul Patts has somewhat underperformed the broader markets recently, I think yesterday’s closing share price of $20.72 is an attractive entry point for any new investors today. I already own SOL shares but I would consider additional investments at this share price and lower.

Cleanaway Waste Management Ltd (ASX: CWY)

Cleanaway is the largest waste management company on the ASX. Of all the industries you can invest in, I think waste management is one of the biggest ‘no-brainers’ out there. Households, businesses and governments alike all produce waste, rain hail or shine, recession or boom – and I suspect will continue doing so for time immemorial.

Therefore, I think hitching your wagon to the largest waste provider on the ASX isn’t a bad idea at all. Cleanaway shares are still somewhat expensive at yesterday’s closing price of $1.98. But considering this is a company that was going for $2.52 just last year, I think today’s offering under $2 isn’t a bad deal at all.

Foolish takeaway

I think in today’s market, these 2 ASX shares offer some of the best deals going. It is hard to find exceptional value plays in the markets these days, but I think these shares are a good place to start.

The post 2 ASX shares looking cheap today appeared first on Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Brickworks. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020