Here’s why brokers rate these ASX shares as buys…
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 leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
ASX Ltd (ASX: ASX)
According to a note out of Macquarie, its analysts have upgraded this stock exchange operator’s shares to an outperform rating with a vastly improved price target of $94.00. The broker has taken a close look at the ASX business and believes the company is well-placed to grow its revenue and dividend at a solid and sustainable rate over the coming years. The ASX share price is trading at $78.00 this afternoon.
Bigtincan Holdings Ltd (ASX: BTH)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $1.50 price target on this sales enablement platform provider’s shares. This follows the release of the company’s fourth quarter update, which revealed annualised recurring revenue (ARR) of $53.1 million. It notes that this leaves it well-placed to at least achieve the broker’s estimates for FY 2022. Looking longer term, Morgan Stanley is confident Bigtincan can grow organically at a quick rate and drive strong profit margin expansion. The Bigtincan share price is fetching $1.17 today.
Transurban Group (ASX: TCL)
Analysts at Ord Minnett have retained their buy rating and $16.00 price target on this toll road operator’s shares. According to the note, the broker is expecting Transurban to report a 15% decline in traffic volumes during FY 2021 compared to pre-pandemic levels. And while it expects the weakness to continue in the first quarter of FY 2022 due to lockdowns, it expects traffic volumes to rebound strongly thereafter. After which, it feels the company’s pipeline of development opportunities leaves it well-positioned for the next phase of its growth. The Transurban share price is trading at $14.28 on Monday.
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Motley Fool contributor 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 has recommended BIGTINCAN FPO. The Motley Fool Australia owns shares of and has recommended BIGTINCAN FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.