Brokers have named Accent Group Ltd (ASX:AX1) 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 right now appeared first on The Motley Fool Australia. –
Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading 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:
Accent Group Ltd (ASX: AX1)
According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this footwear retailer’s shares to $2.60. The broker lifted its price target after upgrading its earnings estimates to account for Accent’s positive trading update. The broker believes there could be more of the same in the future and suspects that its stronger profit margins could be sustained. The Accent share price was trading at $2.44 on Friday.
ARB Corporation Limited (ASX: ARB)
Another note out of Citi reveals that its analysts have upgraded this 4×4 parts company’s shares to a buy rating with a $34.25 price target. The broker made the move on the belief that ARB will benefit from robust car sales in Australia. In addition to this, the recent strengthening of the Australian dollar bodes well for its manufacturing costs in Thailand. The ARB share price ended the week at $31.37.
Atomos Ltd (ASX: AMS)
Analysts at Morgans have retained their add rating and $1.32 price target on this video technology company’s shares following its trading update. According to the note, the broker was pleased with its better than expected sales during the first half. Atomos reported sales of $32.6 million, compared to prior guidance of $28 million. And while it notes that management didn’t provide any earnings guidance, it did say that it expects to generate positive operating earnings for the first half. The Atomos share price ended the week at $1.04.
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.
*Returns as of June 30th
- ASX 200 rises 0.7% on Friday
- Brokers just upgraded the Sonic (ASX:SHL) share price and this other ASX stock to “buy”
- Why Atomos, Corporate Travel Management, Fortescue, & Nick Scali are dropping lower
- Why Accent, Afterpay, Creso Pharma, & Thorn shares are charging higher
- Why the Accent (ASX:AX1) share price will be on watch this morning
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Atomos Ltd. The Motley Fool Australia has recommended Accent Group, ARB Limited, and Atomos Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.