Top brokers have named Corporate Travel Management Ltd (ASX:CTD) 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:
Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Credit Suisse, its analysts have upgraded this corporate travel specialist’s shares to an outperform rating with an improved price target of $22.00. The broker is expecting Corporate Travel Management’s performance to improve greatly in FY 2022 thanks to market share gains, pent-up demand, and higher levels of profitability. Based on this, it estimates that its shares are changing hands for ~25x FY 2022 earnings today, The Corporate Travel Management share price is currently trading at $17.17 this afternoon.
Harvey Norman Holdings Limited (ASX: HVN)
Analysts at Morgan Stanley have upgraded this retail giant’s shares to an overweight rating with an improved price target of $6.00. According to the note, the broker has been looking at the retail sector and believes Harvey Norman is well-placed to benefit from growing demand for household goods such as appliances and furniture. This is expected to underpin generous dividend payments over the coming years. The Harvey Norman share price is trading at $5.38 today.
Vocus Group Ltd (ASX: VOC)
A note out of Goldman Sachs reveals that it has a conviction buy rating and $4.70 price target on this telco’s shares. According to the note, Vocus is Goldman’s preferred pick in the telco sector. It notes that it is entering the third and final year of its turnaround strategy and is the only large telco to be growing earnings. This is being driven by strong execution in its Vocus Network Services division. The broker expects Vocus to deliver first half EBITDA growth of 1% to $192 million before growing it 3% for the full year to $393 million. The Vocus share price is fetching $4.20 this afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.