Leading brokers have named Kogan.com Ltd (ASX:KGN) and these ASX shares as buys. 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 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:
Collins Foods Ltd (ASX: CKF)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this quick service restaurant operator’s shares to $11.39. The broker made the move in response to Collins Foods’ half year results at the start of December. Morgans was pleased with the result and believes it demonstrates the strength of the KFC Australia business. Its analysts appear confident that the business will underpin further growth in the second half and into FY 2022. This should also be supported by improvements across the rest of the company as trading conditions improve. The Collins Foods share price is trading at $9.50 this afternoon.
Kogan.com Ltd (ASX: KGN)
A note out of Credit Suisse reveals that its analysts have upgraded this ecommerce company’s shares to an outperform rating and lifted the price target on them to $20.60. Credit Suisse made the upgrade in response to Kogan announcing the $122 million acquisition of New Zealand based online retailer Might Ape. The broker believes this is a quality acquisition and expects its to boost its private label offering in the future. It also sees notable synergies from the deal. The Kogan share price trading at $19.40 on Monday.
Metcash Limited (ASX: MTS)
Another note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted the price target on this wholesale distributor’s shares to $3.77. According to the note, the broker is very positive on Metcash’s outlook and believes it is being underappreciated by the market. It notes that investments in the independent food retail sector have been made and traditionally generate a sizeable uplift in sales. Credit Suisse also believes the outlook for its hardware business has improved greatly in the last few months. The Metcash share price last traded at $3.44.
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James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia has recommended Collins Foods Limited and Kogan.com ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.