Brokers have named Corporate Travel Management Ltd (ASX:CTD) 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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of UBS, its analysts have retained their buy rating but trimmed the price target on this gaming technology company’s shares to $35.50. The broker has been looking into the company’s Digital business and believes it grew strongly in the first quarter of FY 2021. However, it has reduced its forecasts to account for foreign exchange headwinds. The Aristocrat Leisure share price is trading at $31.16 this afternoon.
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
Analysts at Morgan Stanley have retained their overweight rating and lifted the price target on this banking giant’s shares to $26.20. According to the note, the broker believes that bank shares have the potential to outperform the market this year thanks to their earnings recovery and strong balance sheets. In addition to this, the broker expects banks to benefit from solid home loan growth and a reduction in impairment charges. The ANZ share price is fetching at $24.57 on Friday.
Corporate Travel Management Ltd (ASX: CTD)
Another note out of Morgan Stanley reveals that its analysts have reiterated their overweight rating and $21.50 price target on this corporate travel specialist’s shares ahead of earnings season. According to the note, the broker is expecting Corporate Travel Management to outperform in FY 2021. Especially with the economy re-opening and the sizeable cost reductions it made in FY 2020. In fact, the broker suspects the company’s profitability could even return to pre-COVID levels. The Corporate Travel Management share price is trading at $16.82 this afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.