Top brokers have named NextDC Ltd (ASX:NXT) 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:
HUB24 Ltd (ASX: HUB)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this investment platform provider’s shares to $27.70. Although the broker acknowledges that the prospect of a change to its deposit arrangement, like rival Netwealth Group Ltd (ASX: NWL) experienced, would be a significant near term headwind to earnings, it believes it can overcome this in the long run and remains very positive on its long term outlook. The HUB24 share price is trading at $23.03 today.
Incitec Pivot Ltd (ASX: IPL)
A note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed the price target on this agricultural chemicals company’s shares to $3.08. This follows news that the resumption of production at the Waggaman ammonia plant is behind schedule. While this is disappointing, the broker notes that strong fertiliser prices will offset some of this. This could make the pullback in its share price a buying opportunity for investors. The Incitec Pivot share price is fetching $2.76 today.
NextDC Ltd (ASX: NXT)
Analysts at Goldman Sachs have added this data centre operator’s shares to their conviction buy list and lifted their price target on them to $15.00. According to the note, after meeting with a number of data centre industry participants, Goldman has become increasingly positive on NextDC. It notes that demand remains very strong and pricing continues to be healthy. Goldman also believes the company’s shares deserve to trade at a premium due to its strong growth outlook. The NextDC share price is fetching $11.33 today.
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James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.