Insights

3 latest ASX shares that top brokers have upgraded to “buy” today

The path of least resistance is up for our market and top brokers have just boosted these ASX shares to “buy”.
The post 3 latest ASX shares that top brokers have upgraded to “buy” today appeared first on The Motley Fool Australia. –

asx 200 share price upgrade to buy represented by hand drawing line under the word upgrade

The path of least resistance is up for our market and top brokers have just boosted these ASX shares to “buy”.

The S&P/ASX 200 Index (Index:^AXJO) rallied 0.6% in after lunch trade and is closing in on its record high from just before the COVID-19 market meltdown.

Many experts have a bullish 2021 outlook for ASX shares and here are three that just got put on the broker buy list.

Supply deficit boosts Sandfire share price to buy

The first is the Sandfire Resources Ltd (ASX: SFR) share price. Goldman Sachs upgraded the copper miner to “buy” from “neutral” as it revised up its copper price forecasts.

The broker reckons the red metal will jump by a third from the current spot price to US$5.39 a pound next year. It also lifted its long-term price forecast by 24% to US$4 a pound.

Goldman believes copper and aluminium are facing a supply deficit over the long term. Miners cannot keep up with demand from renewables – a problem made worse by a lack of investment in new mining projects.

The broker’s 12-month price target on the Sandfire share price is $7.60 a share.

The ASX share zipping higher     

Another ASX share that got an upgrade is the Zip Co Ltd (ASX: Z1P) share price. Citigroup increased its rating on the buy now, pay later (BNPL) company to “buy” from “neutral”.

A better-than-expected update from Zip Co’s US business, Quadpay, prompted the bullish turn.

“The key highlight from Zip’s 3Q update was stronger than expected volume growth, with Quadpay TTV +31% ahead of CitiE and up +14% qoq on a seasonally strong Dec qtr,” said Citi.

“With Quadpay accelerating and continuing to beat our expectations, we upgrade Zip to Buy.”

The broker’s 12-month price target on the Zip Co share price is $11.30 a share.

The ASX share upgraded on potential earnings surprise

Meanwhile, the newest ASX share to make it on Jarden’s buy list is the Computershare Ltd (ASX: CPU) share price.

The broker initiated coverage on the share registry services group and called it an “underappreciated macro recovery play”.

While the Computershare share price has bounced since the onset of COVID-19, investors are underestimating the pace of its earnings recovery, particularly following the acquisition of Wells Fargo’s US Corporate Trust Services (CTS) business.

“Annual cost synergies of $80m should support proforma FY21E EPS accretion of 15%+ and a 9% ROIC (emerges over 5 yrs),” said Jarden.

“However, leverage to rising interest rates could boost EPS accretion and ROIC to 25% by FY25E.”

The broker’s 12-month price target on the Computershare share price is $18.65 a share.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Brendon Lau owns shares of Sandfire Resources Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 3 latest ASX shares that top brokers have upgraded to “buy” today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!