Insights

Leading brokers name 3 ASX shares to buy today

Leading brokers have named Westpac Banking Corp (ASX:WBC) 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. –

3 asx shares to buy depicted by man holding up hand with 3 fingers up

With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

BHP Group Ltd (ASX: BHP)

According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $57.00. Due to strong demand and pricing, Macquarie has lifted its forecasts for a number of key commodities that BHP produces. It feels this leaves the company well-placed to reward shareholders with generous dividends in FY 2021 and FY 2022. The BHP share price is trading at $45.61 this afternoon.

Westpac Banking Corp (ASX: WBC)

Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this banking giant’s shares to $27.20. According to the note, Westpac is Morgan Stanley’s favourite among the big four banks. It believes Australia’s oldest bank is well-positioned to buy back shares in FY 2022 due to its strong capital position. In addition to this, the broker believes Westpac can reduce its costs meaningfully, underpinning higher quality earnings and supporting its dividend payments. The Westpac share price is fetching $24.34 on Monday afternoon.

Xero Limited (ASX: XRO)

Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted their price target on this cloud-based business and accounting platform provider’s shares to $140.00. According to the note, the broker believes the recent weakness in the Xero share price has created a buying opportunity for investors. It feels the risk/reward on offer is attractive and remains bullish on its long term growth prospects. Particularly given its recent acquisitions of Planday and Tickstar. The Xero share price is trading at $122.31 today.

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.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. 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.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!