Brokers name 3 ASX shares to buy right now

Brokers have named Westpac Banking Corp (ASX:WBC) 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. –

asx brokers

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:

Nextdc Ltd (ASX: NXT)

According to a note out of Citi, its analysts have retained their buy rating but trimmed the price target on this data centre operator’s shares slightly to $14.45. The broker was pleased with NEXTDC’s half year results last month. Looking ahead, Citi notes that a good portion of its future earnings are already contracted. Furthermore, with the shift to the cloud accelerating, demand looks set to continue to grow in the coming years. The NEXTDC share price is fetching $10.51 on Friday afternoon.

Wesfarmers Ltd (ASX: WES)

A note out of Macquarie reveals that its analysts have retained their outperform rating but cut the price target on this conglomerate’s shares to $56.60. The broker has been looking at recent sales data and notes that the household goods sector continues to perform very strongly. In addition to this, the broker points out that with household savings at a record high, strong retail spending should be sustainable over the medium term. The Wesfarmers share price is trading at $49.45.

Westpac Banking Corp (ASX: WBC)

Analysts at Citi have also retained their buy rating and $26.00 price target on this banking giant’s shares. According to the note, after speaking with management, the broker believes Westpac’s Institutional Bank business is well-placed to overcome cost pressures and a moderation in volumes thanks to its asset quality. Outside this, the broker is positive on the company due to its balance sheet and expects this to underpin solid returns in the future. The Westpac share price is trading at $24.73 on Friday afternoon.

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.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and Westpac Banking. The Motley Fool Australia owns shares of Wesfarmers Limited. 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 right now appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!