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 have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
IDP Education Ltd (ASX: IEL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $33.00 price target on this language testing company’s shares. The broker believes that IDP Education is well-positioned for growth thanks to an improving near term outlook and market share gains. Morgan Stanley is also supportive of its acquisition of the British Council’s Indian IELTS operations and expecting the key market to rebound strongly from COVID-19 disruption in the very near future. The IDP Education share price is trading at $29.47 today.
Temple & Webster Group Ltd (ASX: TPW)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $15.00 price target on this online furniture and homewares retailer’s shares. The broker is a fan of Temple & Webster because of strong demand for its offering due to the housing market boom and an acceleration in the shift online. The Temple & Webster share price is fetching $10.65 this afternoon.
Whitehaven Coal Ltd (ASX: WHC)
Analysts at Credit Suisse have retained their outperform rating and $2.65 price target on this coal miner’s shares. This follows the release of Whitehaven Coal’s fourth quarter update earlier this week. According to the note, the broker was pleased with the company’s performance during the quarter and expects this to continue in FY 2022. And thanks to strong coal prices, the broker believes Whitehaven Coal will generate strong free cash flow, allowing it to pay down significant debt. The Whitehaven Coal share price is trading at $2.15.
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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 Idp Education Pty Ltd and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.