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3 top ASX shares named as buys

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The post 3 top ASX shares named as buys appeared first on The Motley Fool Australia. –

If you’re planning to make some investments in the near future, then you may want to look at the shares listed below.

These three shares have been tipped as buys by leading brokers. Here’s what they are saying about them:

Adore Beauty Group Limited (ASX: ABY)

Adore Beauty is a leading online retailer in the $11.2 billion Australian beauty and personal care (BPC) market. It has been growing strongly over the last few years thanks to its highly successful business model. The company’s integrated model combines online retail with education and entertainment, making its website a destination for consumers even when they’re not purchasing items. Though, plenty of consumers still visit its website to buy items! During the first quarter of FY 2022, Adore Beauty reported revenue of $63.8 million, up 25% on the prior corresponding period. This is still only a small slice of its addressable market.

UBS is positive on Adore Beauty. It currently has a buy rating and $6.00 price target.

Aristocrat Leisure Limited (ASX: ALL)

Aristocrat Leisure is a global gaming technology company with a growing portfolio of poker machines and digital games. The latter includes the hugely popular RAID franchise. In addition, Aristocrat Leisure is in the process of acquiring London-listed leading global online gambling software and content supplier, Playtech, for $5 billion. If this deal goes through, it is expected to be a major boost to its earnings.

Morgans is a fan of Aristocrat Leisure. It currently has an add rating and $52.50 price target on its shares.

Bapcor Ltd (ASX: BAP)

Bapcor is the Asia Pacific region’s leading provider of vehicle parts, accessories, equipment, service and solutions. Thanks to its strong market position, acquisitions, and the expansion of its store footprint, it has been growing at a solid rate in recent years. Positively, these trends continue, particularly for its expansion plans, with management highlighting a significant opportunity in Asia. And while the announcement of the retirement of its long-serving CEO has created some uncertainty, the selloff that ensued afterwards could be a buying opportunity for investors.

Citi is positive on Bapcor. It has a buy rating and $8.75 price target on its shares.

The post 3 top ASX shares named as buys appeared first on The Motley Fool Australia.

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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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Why Bapcor, Mayne Pharma, Race Oncology, and TechnologyOne shares are sinking

ASX 200 (ASX:XJO) midday update: BHP, Woodside rise, TechnologyOne falls

Why the Bapcor (ASX:BAP) share price is crashing 10% lower on Tuesday

2 ASX 200 shares that could be top buys for growth

Brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Adore Beauty Group Limited and Bapcor. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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