Top brokers have named Altium Limited (ASX:ALU) 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:
Altium Limited (ASX: ALU)
Analysts at Citi have upgraded this electronic design software company’s shares to a buy rating with an improved price target of $33.50. According to the note, while the broker sees risks to the company achieving its full year guidance, it believes COVID-19 headwinds are easing and demand is improving. It expects this to result in an acceleration in its earnings growth in FY 2022. Citi also believes recent weakness has left its shares trading at an attractive level. The Altium share price is trading at $28.98 today.
Breville Group Ltd (ASX: BRG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and increased the price target on this appliance manufacturer’s shares to $35.00. The broker notes that Breville delivered a first half result ahead of its expectations. Looking ahead, Morgan Stanley believes that Breville’s guidance for the full year is conservative and expects it to outperform it. Especially given the strong demand for kitchen appliances. The Breville share price is trading at $30.81 this afternoon.
ELMO Software Ltd (ASX: ELO)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $9.70 price target on this human resources and payroll platform provider’s shares. This follows the release of its half year results, which were largely pre-released in January. Looking ahead, the broker believes that ELMO is well-placed to achieve the top end of its annualised recurring revenue (ARR) guidance range. The ELMO share price is fetching $6.11 on Wednesday.
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- One year on and 50% up, the All Technology Index is booming
- The latest ASX shares upgraded by brokers to “buy” during the reporting season
- 3 things you might have missed from the Altium (ASX:ALU) half year result
- Here’s why the ELMO (ASX:ELO) share price is surging 6% higher today
- Why the Breville (ASX:BRG) share price is charging 7% higher today
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 Elmo Software. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Altium. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Elmo Software. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.