Brokers are bullish on these ASX shares…
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –
It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Breville Group Ltd (ASX: BRG)
According to a note out of Macquarie, its analysts have retained their outperform rating and $34.37 price target on this appliance manufacturer’s shares. This follows management comments at its annual general meeting this week which revealed that the company is performing in line with expectations. Macquarie also notes that demand remains solid, particularly for coffee machines, and supply chain issues have largely been avoided. The Breville share price is trading at $29.74 this afternoon.
Hipages Group Holdings Ltd (ASX: HPG)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and lifted their price on this tradie services marketplace provider’s shares to $4.95. The broker notes that Hipages is evolving from a lead-sourcing service for tradies to a comprehensive trade services platform. It believes this leaves it well-placed for grow over the long term. Particularly given the highly supportive macro environment, tailwinds from digitisation and a shift to online, early signs of execution on a solid adjacency strategy, and growth in its total addressable market beyond residential trade services. The Hipages share price is fetching $3.99 today.
Xero Limited (ASX: XRO)
Analysts at Credit Suisse have retained their outperform rating and $160.00 price target on this cloud accounting platform provider’s shares following its half year results. While Xero’s result fell short of the market’s expectations, it was actually ahead of Credit Suisse’s estimates. All in all, the broker remains positive on the future and expects its average revenue per user metric to be a key driver of growth. The Xero share price is trading at $140.29 on Friday afternoon.
Should you invest $1,000 in Xero right now?
Before you consider Xero, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Xero wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of August 16th 2021
Motley Fool contributor 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 has recommended Hipages Group Holdings Ltd. and Xero. The Motley Fool Australia owns shares of and has recommended Xero. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.