Are Coles (ASX:COL) shares a must-buy for income investors?

If you’re wishing to supplement your income with some dividend-paying ASX shares, then you could certainly do a lot worse than Coles Group Ltd (ASX: COL).

The supermarket operator’s shares have come under pressure recently and are trading at an attractive level according to one leading broker.

Why is the Coles share price good value?

According to a recent note out of Goldman Sachs, its analysts have a buy rating and $20.70 price target on this supermarket giant’s shares.

Based on the latest Coles share price of $15.51, this implies potential upside of over 33% for its shares over the next 12 months.

The broker notes that the Coles share price has fallen heavily since the release of its half year results. It appears to…