Leading brokers name 3 ASX shares to buy today

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:

Adairs Ltd (ASX: ADH)

According to a note out of Morgans, its analysts have upgraded this furniture and homewares retailer’s shares to an add rating but with a trimmed price target of $4.20. This follows the release of its full year results last week. It was pleased with its performance in FY 2021. And while it has lowered its earnings estimates for the year ahead, the broker still feels that Adairs’ shares are among the cheapest in the sector. The Adair’s share price is fetching $3.64 on Monday.

South32 Ltd (ASX: S32)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating but trimmed their price target on this mining giant’s shares to $3.60. Goldman reduced its price target after revising its earnings estimates lower to reflect higher than expected unit costs. However, this isn’t enough for the broker to become any less bullish. It continues to believe its shares are great value and is forecasting significant free cash flow yields of 17% to 19% in FY 2022 and FY 2023. This is expected to underpin double digit dividend yields in both years. The South32 share price is trading at $2.84 today.

TPG Telecom Ltd (ASX: TPG)

Analysts at Morgans have also retained their add rating but trimmed their price target on this telco giant’s shares slightly to $7.11. According to the note, the broker acknowledges that TPG’s cash flows were weak in the first half of FY 2021. However, it puts this down to timing and expects a reversal in the second half. It also notes that management does not expect any significant seasonality in the business, which puts it on track to achieve operating earnings of $1.7 billion in FY 2021. Based on this, it appears to believe its shares good value at the current value. The TPG share price is fetching $6.19 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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 August 16th 2021

More reading

Which ASX companies are the top movers in the ASX 300 today?

TPG (ASX:TPG) share price sinks on broker note
ASX 200 Weekly Wrap: Miners drag ASX back to earth

2 top ASX dividend shares that just delivered big growth

After ASX mining shares crashed last week, top brokers are backing this miner

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 recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO. The Motley Fool Australia has recommended TPG Telecom Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!