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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:

Macquarie Group Ltd (ASX: MQG)

According to a note out of Citi, its analysts have retained their buy rating and $226.00 price target on this investment bank’s shares. Citi notes that Macquarie’s shares have risen strongly this year. However, it still believes they can keep rising due to favourable tailwinds such as commodity price volatility and higher energy prices. The latter are supporting its gas marketing business. The Macquarie share price is trading at $202.05 on Monday afternoon.

Oil Search Ltd (ASX: OSH)

A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this energy company’s shares to $5.65. UBS has upgraded the company’s earnings estimates to reflect higher oil price forecasts due to tighter than expected supply. In addition, the broker notes that the independent expert has recommended the Oil Search-Santos Ltd (ASX: STO) merger. UBS feels this development has de-risked things materially. The Oil Search share price is fetching $4.28 today.

Rio Tinto Limited (ASX: RIO)

Another note out of Citi reveals that its analysts have retained their buy rating and $115.00 price target on this mining giant’s shares. Citi likes Rio Tinto due to its bullish view on aluminium, which it expects to fall into a deep deficit in 2022. In addition, the broker believes the company will benefit from Chinese demand for higher grade iron ore. The Rio Tinto share price is trading at $91.97 this afternoon.

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

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More reading

Lockdowns are easing, but are CSL (ASX:CSL) shares out of the woods yet?

The Macquarie (ASX:MQG) share price has gained 40% this year. Is it still good value?

Why are ASX 200 resources shares booming again on Friday?

Oil Search (ASX:OSH) shares undervalued in Santos merger: expert

Fortescue (ASX:FMG) share price surges 9% to shrug off falling iron ore price

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

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