Insights

Brokers name 3 ASX shares to buy now

Brokers have named Ramsay Health Care Limited (ASX:RHC) and these ASX shares as buys this week. Here’s why they are bullish on them…
The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia. –

Australia’s top brokers have been busy adjusting their estimates and recommendations once again. This has led to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australia’s top brokers have been busy adjusting their estimates and recommendations once again. This has led to the release of a number of broker notes.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Afterpay Ltd (ASX: APT)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $149.00 price target on this payments company’s shares. The broker has been looking at app downloads in the United States during the month of May. It notes that Afterpay’s app was downloaded twice as much as it was a year earlier. It feels this is particularly impressive given that this is a seasonally quiet period. Outside this, Morgan Stanley remains positive on the company, believing that its recent launch in the European Union sets it up to build a global platform. The Afterpay share price is fetching $94.08 today.

Eagers Automotive Ltd (ASX: APE)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and increased their price target on this auto retailer’s shares to $17.50. The broker believes that Eagers Automotive is well-placed to benefit from favourable trading conditions which continue to see demand outstripping supply. This has led to the broker increasing its margin assumptions and making material upgrades to its near term earnings forecasts. The Eagers Automotive share price is trading at $15.96 this afternoon.

Healius Ltd (ASX: HLS)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this healthcare company’s shares to $4.70. The broker made the move after looking at current COVID-19 testing volumes. It believes Healius is well-placed to benefit from increasing demand for testing and appears to expect volumes to remain robust into FY 2022. The Healius share price is trading at $4.30 today.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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