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:
Orocobre Limited (ASX: ORE)
According to a note out of Ord Minnett, its analysts have retained their buy rating and lifted their price target on this lithium miner’s shares to $10.40. The broker believes recent weakness in the Orocobre share price due to profit taking could be a buying opportunity. Especially given how lithium prices have continued to rise. The Orocobre share price is trading at $9.05 on Monday afternoon.
Redbubble Ltd (ASX: RBL)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $6.50 price target on this ecommerce company’s shares. The broker notes that driving customer loyalty has become a core strategy for Redbubble. Morgan Stanley is pleased with this and believes that its successful execution could help the company achieve 20% to 30% per annum revenue growth over the medium term. The Redbubble share price is fetching $3.84 on Monday.
Transurban Group (ASX: TCL)
Analysts at Morgans have upgraded this toll road operator’s shares to an add rating with an improved price target of $14.82. According to the note, after adjusting its valuation approach, Morgans has unearthed an additional source of incremental value. In addition to this, it feels the current Transurban share price is an attractive entry point for investors following the completion of its retail entitlement offer. The Transurban share price is trading at $13.74 on Monday afternoon.
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Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.