Brokers have named BHP Group Ltd (ASX:BHP) 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 Motley Fool Australia. –
Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a large number of broker notes this week.
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:
BHP Group Ltd (ASX: BHP)
According to a note out of Credit Suisse, its analysts have upgraded this mining giant’s shares to an outperform rating with a $39.00 price target. The broker made the move after increasing its estimates for Chinese steel consumption over the next couple of years. It expects this to support demand for iron ore and keep prices elevated for longer. In addition to this, Credit Suisse has a positive view on coking coal. I agree with the broker on BHP and would be a buyer of its shares.
Corporate Travel Management Ltd (ASX: CTD)
Analysts at UBS have retained their buy rating and lifted the price target on this corporate travel specialist’s shares to $18.70. The broker appears pleased with the company’s business-changing acquisition of US-based Travel & Transport for $274.5 million. As well as the synergies it will provide, UBS believes that the increased scale will help it win a greater share of the North American market. I think UBS makes some great points and Corporate Travel Management could be worth considering.
Jumbo Interactive Ltd (ASX: JIN)
A note out of Morgans reveals that its analysts have retained their add rating and trimmed the price target on this online lottery ticket seller’s shares slightly to $13.89. This follows the announcement of an agreement with Lotterywest in Western Australia for its Powered by Jumbo SaaS platform. Although the broker expects softer revenue margins from the deal, it still sees it as a positive and believes it could help with its discussions with international lotteries. I agree with Morgans and think Jumbo would be a great long term option due to its SaaS business.
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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 Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Jumbo Interactive Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.