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:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this online lottery ticket seller’s shares to $17.10. This follows the release of a full year result that was in line with the broker’s expectations. Looking ahead, Morgans believes the Powered by Jumbo SaaS business is well placed for growth thanks to its significant global addressable market. The Jumbo share price is trading at $15.10 this afternoon.
NEXTDC Ltd (ASX: NXT)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating but trimmed their price target slightly on this data centre operator’s shares to $14.40. Although NEXTDC fell a touch short of Goldman’s revenue expectations, its earnings were slightly stronger than expected. It also notes that the company’s guidance for FY 2022 was in line with its estimates when adjusted for higher power prices. All in all, Goldman remains positive and sees strong growth ahead for NEXTDC thanks to the migration to the cloud. The NEXTDC share price is fetching $12.76 on Monday.
Qantas Airways Limited (ASX: QAN)
Analysts at Citi have retained their buy rating and lifted their price target on this airline operator’s shares to $5.93. This follows the release of the company’s full year results last week. The broker notes that Qantas’ guidance for FY 2022 implies market share gains. And while it acknowledges that there is a high level of COVID uncertainty, it highlights that Qantas is well-placed to meet pent-up demand when travel markets recover. The Qantas share price is trading at $5.02 this afternoon.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.