Leading brokers have named ResMed Inc (ASX:RMD) 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:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $15.20 price target on this online lottery ticket seller’s shares. The broker believes that Jumbo is well-placed to benefit from a favourable run of jackpots, underpinning higher than normal ticket sales. Morgan Stanley also suspects that COVID-19 has been supportive of a shift to online lottery ticket purchasing, which bodes well for the future. The Jumbo share price is fetching $14.03 this morning.
PointsBet Holdings Ltd (ASX: PBH)
A note out of Credit Suisse reveals that its analysts have upgraded this sports betting company’s shares to an outperform rating with an improved price target of $16.15. The broker made the move following the release of PointsBet’s third quarter update. It believes its update demonstrates the company’s ability to grow its market share in the United States. Credit Suisse also notes that PointsBet is aiming to be active in 18 US states by the end of 2022. This will be supportive of growth in the lucrative market, where the broker believes it is currently the number four player. The PointsBet share price is trading at $14.37 on Monday.
ResMed Inc (ASX: RMD)
Analysts at Morgans have retained their add rating but trimmed their price target on this medical device company’s shares to $29.14. This follows the release of a third quarter result last week which the broker felt was mixed. However, Morgans believes the headwinds the company is facing are cyclical and not structural. As a result, it believes the future remains positive for ResMed. Particularly given the upcoming launch of the next generation sleep apnoea platform, AirSense 11. The ResMed share price is fetching $25.06 on Monday morning.
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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 Jumbo Interactive Limited and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Jumbo Interactive Limited, Pointsbet Holdings Ltd, and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.