Brokers have named Codan Limited (ASX:CDA) 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 today appeared first on The Motley Fool Australia. –
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:
Boral Limited (ASX: BLD)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this building products company’s shares to $6.30. This follows the announcement of the sale of its 50% share in the USG Boral business. Morgan Stanley notes that this is another positive in the transformation of Boral. It also suspects that other asset sales could be made, which could lead to further capital management. The Boral share price is fetching $5.87 on Tuesday.
Codan Limited (ASX: CDA)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this technology company’s shares to $17.00. This follows the announcement of the acquisition of Zetron for US$45 million last week. Macquarie is a fan of the acquisition and feels it gives Codan exposure to a complementary and attractive market. In addition to this, the recent launch of a key new metal detector could be a boost to sales. Previously, the company has entered into a strong upgrade cycle following the release of major new metal detectors. The Codan share price is up over 5% to $16.74 this morning.
Sealink Travel Group Ltd (ASX: SLK)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this travel and transport company’s shares to $10.30. According to the note, the broker has been looking into the New Zealand public transport industry. Macquarie sees opportunities for Sealink to expand into New Zealand through acquisitions. In addition to this, the broker feels the company is well-placed for further contract wins. The Sealink share price is trading at $9.51 today.
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*Returns as of February 15th 2021
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.