Leading brokers have named Kogan.com Ltd (ASX:KGN) 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 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:
Bapcor Ltd (ASX: BAP)
According to a note out of Citi, its analysts have retained their buy rating and $9.50 price target on this auto parts retailer’s shares. The broker notes that one of the company’s main rivals, Repco, has released a strong quarterly update. It believes this supports the view that Bapcor has continued to perform strongly during the third quarter. Outside this, the broker likes the company due to its long term growth potential. Particularly given its investment in supply chain optimisation. The Bapcor share price is fetching $8.23 this morning.
Kogan.com Ltd (ASX: KGN)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating but cut the price target on this ecommerce company’s shares to $17.93. According to the note, the broker acknowledges that Kogan is having issues with its inventory and is cycling elevated sales from this time last year. However, it believes investors should look beyond these issues as it feels they are only temporary. Credit Suisse remains positive on its medium term growth prospects, especially given its growing customer base. The Kogan share price is trading at $10.65 on Monday.
SEEK Limited (ASX: SEK)
Another note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted their price target on this job listings company’s shares to $34.00. According to the note, the broker expects SEEK to have a strong second half thanks to an increase in listing volumes and a favourable shift in their mix. In addition, the broker feels that SEEK’s shares trade on undemanding multiples after adjusting for its investments. The SEEK share price is fetching $31.69 on Monday morning.
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James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Kogan.com ltd and SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.