The latest ASX “buy” recommendations from top brokers

Our share market may be on a backfoot today, but this didn’t stop leading brokers from throwing up their latest ASX buy ideas for the year.
The post The latest ASX “buy” recommendations from top brokers appeared first on The Motley Fool Australia. –

Hand writing Time to Buy concept clock with blue marker on transparent wipe board.

Our share market may be on a backfoot today, but this didn’t stop leading brokers from throwing up their latest ASX buy ideas for the year.

The S&P/ASX 200 Index (Index:^AXJO) steadily lost ground through the morning and slumped 0.5% at the time of writing.

SYD share price target gets a lift

If you are looking to buy the dip, Morgans is recommending you put the Sydney Airport Holdings Pty Ltd (ASX: SYD) share price on your shopping list.

The broker upgraded its price target on the SYD share price to $6.95 from $6.56 a share ahead of the airport operators profit results on 24 February.

“SYD’s intrinsic value is not driven by month-to-month pax volatility, but where earnings stabilise upon recovery from COVID-19 (and theirlong-term growth thereafter) as well as the interest rate environment,” said Morgans.

However, the broker only expects Sydney Airport to restart paying a dividend in 2022 and doesn’t think earnings will significantly exceed FY19 levels until FY24.

But for those willing to overlook the nearer-term volatility, Morgans is recommending the stock as “add”.

Pivotal point prompts BGA share price upgrade

Meanwhile, one of the latest ASX stocks to get upgraded by Bell Potter is the Bega Cheese Ltd (ASX: BGA) share price.

The broker upped its rating on the dairy producer to “buy” from “hold” after it noted two significant industry changes in the past two months that favour the BGA share price.

The first is Bega’s recent $764 million acquisition of Lion Dairy and Drinks with Bega forecasting synergies of around $41 million.

The second is the accounting problems at rival Freedom Foods. Bell Potter thinks these two events could prove to be a “pivotal point” in the competitive landscape and isn’t fully appreciated by the market.

Bell Potter’s 12-month price target on the BGA share price is $6.20 a share.

On a stronger platform

One of Citigroup’s buys for the year is the Hub24 Ltd (ASX: HUB) share price as the investment platform is benefiting from a number of tailwinds.

One tailwind is the exodus of advisers away from vertically integrated platforms and towards smaller operators like Hub24.

Turmoil that’s rocking key rivals, including the AMP Limited (ASX: AMP) share price, is also benefitting the ASX small cap stock.

Citi also highlighted the end of grandfathered commissions as the third driver for the HUB24 share price.

While the broker is worried about the execution risks following Hub24’s three recent acquisitions, it believes these assets (if bedded down right) can give it an edge over rivals.

Citi is recommending the HUB24 share price as a “buy” with a 12-month price target of $25.85 a share.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Brendon Lau owns shares of AMP Limited. Connect with me on Twitter @brenlau.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The latest ASX “buy” recommendations from top brokers appeared first on The Motley Fool Australia.

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!