Top brokers have named QBE Insurance Group Ltd (ASX:QBE) and these ASX shares as buys. Here’s why they are bullish on them…
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –
Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
City Chic Collective Ltd (ASX: CCX)
According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this fashion retailer’s shares to $4.00. This follows the announcement of the acquisition of UK-based plus-sized women’s fashion retailer Evans this week. The broker is expecting the acquisition to be meaningfully accretive to earnings from next year and suspects it could help drive margin expansion. The City Chic share price is changing hands for $3.79 this afternoon.
QBE Insurance Group Ltd (ASX: QBE)
Another note out of Citi reveals that its analysts have retained their buy rating but cut the price target on this insurance giant’s shares to $10.60. According to the note, the broker was disappointed to see QBE announce yet another profit warning. However, given its undemanding valuation and a very favourable premium rate backdrop, the broker is holding firm with its buy rating. It expects premium increases to underpin margin expansion and growth in the coming years. The QBE share price is fetching $8.85 on Wednesday.
Volpara Health Technologies Ltd (ASX: VHT)
Analysts at Morgans have retained their add rating and $1.71 price target on this healthcare technology company’s shares. This follows the announcement of a five-year software-as-a-service (SaaS) contract with BreastScreen Queensland. BreastScreen Queensland is the third largest public breast screening program in Australia. Morgans suspects that this could be the first of other state-based screening programs. In addition, Morgans has reminded investors about an upcoming ruling by the FDA that could see the regulator mandate that a women’s breast density must be reported. This would be a big positive for the company. The Volpara share price is trading at $1.38 this afternoon.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends VOLPARA FPO NZ. The Motley Fool Australia has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.