Insights

Brokers name 3 ASX shares to buy right now

Brokers have named Altium Limited (ASX:ALU) 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:

Altium Limited (ASX: ALU)

According to a note out of Credit Suisse, its analysts have initiated coverage on this electronic design software company’s shares with an outperform rating and $42.00 price target. Its analysts are a fan of the company’s shift to the cloud through its Altium 365 platform. Altium has stated that it expects this strategy to support transformation through dominance and Credit Suisse appears to agree. It sees a lot of cloud-based transformation potential over the long term. The Altium share price is trading at $35.24 this afternoon.

Nick Scali Limited (ASX: NCK)

Analysts at Canaccord Genuity have initiated coverage on this furniture retailer’s shares with a buy rating and $10.75 price target. Its analysts believe Nick Scali’s shares are great value at the current level and offer material upside over the next 12 months. Last month the company reported a 45% increase in total sales orders for the first three months of FY 2021. It also revealed that this positive trend has continued through October. The Nick Scali share price is fetching $8.42 on Friday.

Origin Energy Ltd (ASX: ORG)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $7.85 price target on this energy company’s shares. The broker was pleased with management’s commentary at its investor day and sees a clear path to capital returns now its balance sheet has been restored. It believes rising returns to shareholders will be the last step to drive a rebound in its share price. The Origin Energy share price is trading at $5.19 at the time of writing.

Our Black Friday Sale – Save 75% on Motley Fool Extreme Opportunities

These are high octane, high upside-potential stocks… Stocks that are growing like gangbusters, and have the potential to quickly turn modest initial investments into small fortunes.

Since inception, our Extreme Opportunities service has delivered some moonshot stock picks that have absolutely shattered the market, some have even trebled in value, completely dwarfing the market average.

And now is a perfect time to join in this Black Friday Sale. You can save a whopping 75% off a full 1-year membership.

Join Extreme Opportunities in our Black Friday Deal!

Returns as of 27th November

More reading

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 and recommends Altium. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

The post Brokers name 3 ASX shares to buy right now appeared first on 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!