Analysts name 2 of the best ASX shares to buy now

Mqcquarie Group Ltd (ASX :MQG) is one of the ASX shares that Motley Fool analysts rate as one of the best ASX shares to buy now
The post Analysts name 2 of the best ASX shares to buy now appeared first on Motley Fool Australia. –

two ladies playing amongst clothes on a store rack

It’s hard to know which ASX shares are the best to buy right now. The coronavirus pandemic is still eliciting massive uncertainties in both the economy and society. As such, the investing world is still arguably very much ‘in-flux’.

Luckily, there’s no penalty for receiving (or following) the recommendations of experts in this space. So here are 2 ASX shares that analysts at the Motley Fool rate as ‘buys’ today.

2 of the best ASX shares to buy now

Premier Investments Limited (ASX: PMV)

Premier Investments might not be a company you’ve heard of. But it’s far more likely you’d be familiar with some of its store brands.

Premier owns a stable of successful Aussie retailers, including stationary seller Smiggle, clothing shops Just Jeans and JayJays, as well as the purveyor of high-end sleepwear Peter Alexander.

One might be worried about the prospects of investing in a retail company in 2020. But Premier’s performance this year arguably puts any of these fears to rest.

Back in September, the company released it’s full-year results for the 12 months to 25 July 2020.  Despite the pandemic, Premier Investments thrived over the year, posting a 29% increase to net profits. This was largely driven by online sales, which soared almost 49% over the period.

Premier also maintained it’s 70 cents per share dividend from 2019 in 2020. Premier Investments is currently rated as a ‘buy’ in the Motley Fool’s ‘Everlasting Income’ service.

Macquarie Group Ltd (ASX: MQG)

Macquarie Group is routinely called a ‘bank’, and is even sometimes lobbed in with the big four like Commonwealth Bank of Australia (ASX: CBA) as the ‘ASX’s fifth bank’.

But the reality is Macquarie is not your typical ASX banking share.

It does offer mortgages, bank accounts, credit cards and loans like CBA and the others. But most of Macquaries’ earnings come from other spheres, such as asset management (Macquarie offers a range of managed funds), commodity trading and investment banking.

This makes it less vulnerable to factors that negatively affect the other ASX banks, like a sluggish economy, low credit growth and low interest rates.

Macquarie has done very well for its investors over the past few months. Macquarie Group shares are up more than 94% since 23 March, and up 10% in November so far alone. 

Analysts at the Motley Fool’s ‘Share Advisor’ service, as well as the ‘Dividend Investor’ and ‘Everlasting Income’ services, currently rate Macquarie Group as a ‘buy’ today.

Where to invest $1,000 right now

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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.

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*Returns as of June 30th

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Premier Investments Limited. 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 post Analysts name 2 of the best ASX shares to buy now appeared first on Motley Fool Australia.

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