Leading brokers have named Afterpay Ltd (ASX:APT) and these ASX shares as buys this week. Here’s why they are bullish on them…
The post Leading brokers name 3 ASX shares to buy today appeared first on 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 shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Afterpay Ltd (ASX: APT)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted the price target on this payments company’s shares to $120.00. The broker believes that the holiday season will be a strong one and is expecting Afterpay’s active customer numbers to surge to 11.9 million. It also believes its partnerships with Stripe and Wix will be a boost in the near future and notes that it has launched a cross-border trade option for merchants. Overall, this has led to the broker bumping its forecasts higher. The Afterpay share price is trading at $101.40 on Monday.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at Morgans have retained their add rating and lifted the price target on this retailer’s shares to $12.78. This follows the announcement of an agreement to acquire beeline stores in the European market. The broker notes that the deal is highly favourable for Lovisa, with beeline essentially paying it to take it over. In addition to this, the broker notes that the company’s same store sales are continuing their recovery. In light of the above, Morgans has lifted its earnings forecasts accordingly. The Lovisa share price is fetching $11.60 today.
Ramsay Health Care Limited (ASX: RHC)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted the price target on this private hospital operator’s shares to $73.65. This follows the release of a first quarter trading update last week. The broker notes that Ramsay’s Australian revenue was higher in the first quarter, though this was offset by higher costs. Nevertheless, the broker remains positive on the future and believes it is well positioned for long term growth. The Ramsay share price is changing hands for $67.60 today.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Ramsay Health Care Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.