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Top brokers name 3 ASX shares to buy today

Top brokers have named CSL Limited (ASX:CSL) 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. –

asx brokers

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:

Altium Limited (ASX: ALU)

According to a note out of Credit Suisse, its analysts have retained their outperform rating but cut the price target on this electronic design software company’s shares to $35.00. This follows the release of Altium’s guidance for the first half of FY 2021. While the broker appears disappointed with its weaker than expected update, it remains positive on its long term growth trajectory. In addition to this, the broker notes that management is positive on its second half prospects and spoke about its significant deal pipeline. The Altium share price is trading at $28.51 on Wednesday.

Bapcor Ltd (ASX: BAP)

Analysts at Citi have retained their buy rating and $8.85 price target on this auto parts retailer’s shares. According to the note, the broker believes that Bapcor could benefit from a semiconductor shortage which is forcing car manufacturers to cut their production. It expects this to lead to stronger demand for used cars, which should support demand for auto parts. Citi is also a fan of the company due to its defensive qualities. The Bapcor share price is fetching $7.85 this afternoon.

CSL Limited (ASX: CSL)

A note out of UBS reveals that its analysts have retained their buy rating and $346.00 price target on this biotherapeutics giant’s shares. According to the note, the broker’s research shows that CSL has opened 21 new plasma collection centres since the start of the financial year. It believes this will help mitigate some of the plasma collection headwinds it is facing because of the pandemic. And while UBS still expects plasma collections to fall meaningfully, it remains positive on the company and appears to expect other areas of the business to pick up the slack. The CSL share price is trading at $271.51 today.

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

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

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