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:
BlueBet Holdings Ltd (ASX: BBT)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this sports betting company’s shares to $2.44. This follows the release of a solid fourth quarter update last week, which revealed above prospectus growth. It was also pleased to see the company has started FY 2022 strongly. Looking longer term, it believes BlueBet is well-placed for growth thanks to Australian market share gains and its US market entry. The BlueBet share price is fetching $2.19 on Monday.
Telstra Corporation Ltd (ASX: TLS)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $4.20 price target on this telco giant’s shares ahead of its full year results release. Goldman is expecting a result towards the high end of its FY 2021 guidance range. Looking ahead, it is expecting above consensus EBITDA guidance for FY 2022 and for management to guide to further growth in FY 2023. The Telstra share price is trading at $3.80 this afternoon.
Westpac Banking Corp (ASX: WBC)
Analysts at Citi have retained their buy rating and lifted their price target on this banking giant’s shares to $30.00. According to the note, the broker believes Westpac shares are trading at an attractive level for investors. Particularly given the prospect of capital management, cost reductions, and divestments. Citi is also forecasting fully franked annual dividend yields greater than 4.5% over the coming years. The Westpac share price is fetching $25.08 on Monday afternoon.
Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of May 24th 2021
Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.