Leading 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 Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –
With many brokers taking a well-earned break over the holiday period, broker notes are few and far between right now.
In light of this, I thought I would take a look at a few that have been released over the last few weeks that remain very relevant today.
Three buy ratings that you might want to pay attention to are listed below:
Adore Beauty Group Ltd (ASX: ABY)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $8.35 price target on this online beauty retailer’s shares. The broker notes that Adore Beauty’s trading update reveals that trading has been strong and management has upgraded its guidance for the first half. And while it is keen to see whether this was at the expense of margin, it appears supportive of giving away margin to win market share at this stage in its growth. The Adore Beauty share price is trading at $5.65 this afternoon.
Altium Limited (ASX: ALU)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $40.00 price target on this electronic design software provider’s shares. According to the note, the broker was pleased to see that Altium recently reaffirmed its FY 2021 guidance despite the tough operating environment. Morgan Stanley also notes that management spoke positively about the launch of its new Altium 365 platform. This is a big positive as the broker sees this cloud-based platform as the key driver of growth in the future. The Altium share price is trading at $34.33 this afternoon.
Metcash Limited (ASX: MTS)
Analysts at Citi have retained their buy rating and lifted the price target on this wholesale distributor’s shares to $4.00. The broker made the move following the release of a stronger than expected first half result earlier this month. Pleasingly, the broker believes more of the same is coming in the medium term thanks largely to its Hardware business. And while it acknowledges that Food sales will inevitably moderate post-pandemic, this hasn’t stopped the broker from upgrading its earnings forecasts for the next couple of years. The Metcash share price is trading at $3.45 on Tuesday.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
- 2 ASX 200 shares to buy in January
- 5 fantastic ASX shares to buy in 2021
- 2 ASX growth shares to buy
- 2 top ASX shares to buy according to WAM
- 2 exciting mid cap ASX shares to buy for the long term
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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.