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Brokers name 3 ASX shares to buy now

Brokers have named Aristocrat Leisure Limited (ASX:ALL) 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. –

ASX shares Hand writing Time to Buy concept clock with blue marker on transparent wipe board.

Many of Australia’s top brokers have been busy once again adjusting their estimates and recommendations. 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:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $38.00 price target. The broker has been looking into the company’s digital business and estimates that it grew very strongly during the first half. This was thanks largely to its RAID and EverMerge games, which are generating significant recurring revenues for Aristocrat. In addition to this, following a briefing last week, the broker is confident the company will emerge from the pandemic in a stronger competitive position. The Aristocrat Leisure share price is fetching $36.58 on Friday.

Hipages Group Holdings Ltd (ASX: HPG)

Analysts at Goldman Sachs have retained their buy rating and $3.10 price target on this online tradie marketplace provider’s shares. According to the note, the broker believes Hipages is well-placed to benefit from strong consumer demand for tradies. This is being supported by the housing market boom and the working from home initiative. Outside this, it estimates that the company catches only 5% of tradie industry advertising spend at present. But sees scope for this to grow beyond 40% in the future. The Hipages share price is trading at $2.32 today.

Western Areas Ltd (ASX: WSA)

A note out of Ord Minnett reveals that its analysts have retained their buy rating and $3.10 price target on this nickel producer’s shares. According to the note, the broker was pleased with Western Areas’ quarterly update, which delivered production ahead of its estimates. This was driven by an improved performance at the Forrestania project. Overall, it appears to see a lot of value in its shares at the current level and retains its buy recommendation. The Western Areas share price is fetching $2.23 today.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Hipages Group Holdings Ltd. 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 Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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