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:
Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this baby products retailer’s shares to $6.90. This follows the release of a full year result that was in line with the broker’s expectations. And while it acknowledges that the start of FY 2022 has been soft due to COVID impacts, it remains confident that its performance will rebound strongly when lockdowns end. So much so, it has increased its same store sales growth estimates for FY 2022 to 5%. The Baby Bunting share price is fetching $5.42.
PEXA Group Ltd (ASX: PXA)
A note out of Macquarie reveals that its analysts have commenced coverage on this property settlements platform provider’s shares with an outperform rating and $20.15 price target. Its analysts are positive on the company due largely to its international expansion opportunity. Macquarie notes that its opportunity in the UK market is more than twice as large as in Australia. The PEXA share price is trading at $17.03 on Monday.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs have retained their conviction buy rating and lifted their price target on this insurance giant’s shares to $13.41. According to the note, the broker was pleased with QBE’s half year results. It notes that its headline earnings now better represent the company’s underlying momentum. Following the half year update, Goldman has upgraded its earnings estimates through to FY 2023. It also notes that QBE is intending to increase its exposure to growth assets in its investment portfolio. The QBE share price is fetching $12.55 today.
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Baby Bunting. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.