Top brokers have named Bank of Queensland Limited (ASX:BOQ) 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:
Bank of Queensland Limited (ASX: BOQ)
According to a note out of Morgans, its analysts have upgraded this regional bank’s shares to an add rating with an improved price target of $10.00. The broker made the move after Bank of Queensland announced the acquisition of ME Bank for $1.325 billion. Morgans is forecasting the acquisition to be highly accretive to earnings. It also notes that a trading update reveals that the company is on course to deliver better than expected first half earnings. The Bank of Queensland share price is fetching $9.24 today.
Booktopia Group Ltd (ASX: BKG)
Another note out of Morgans reveals that its analysts have retained their add rating and lifted the price target on this online book retailer’s shares to $3.53. According to the note, the broker was impressed with the company’s half year results. And while Booktopia’s earnings guidance was a touch short of Morgans’ estimates due to softer margins, the broker believes its margins will improve in the future. It also feels Booktopia is well-placed to benefit from a growing online book market. The Booktopia share price is trading at $2.69 on Wednesday.
SEEK Limited (ASX: SEK)
Analysts at UBS have upgraded this job listings company’s shares to a buy rating with an improved price target of $32.00. According to the note, the broker has lifted its estimates to reflect a stronger than expected performance during the first half. It was also pleased to see the company upgrade its EBITDA guidance to $460 million but feels there could still be upside to this given current trading conditions. The SEEK share price is fetching $26.00 this afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended SEEK Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.