Top brokers have named Zip Co Ltd (ASX:Z1P) 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:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $15.20 price target on this lottery ticket seller’s shares. The broker notes that lottery jackpots have been strong during the second half, which bodes well for ticket sales on Jumbo’s platform. Outside this, the broker believes there is a big opportunity for its SaaS business from the migration to online lotteries over the long term. The Jumbo share price is trading at $13.75 on Wednesday.
REA Group Limited (ASX: REA)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $175.00 price target on this property listings company’s shares. According to the note, the broker believes REA Group is well-placed to benefit from the booming housing market. So much so, it sees potential for an earnings super cycle next year. It notes that this is being driven by listings growth and additional inventory. The latter is being underpinned by people re-evaluating where they want to live following the pandemic. The REA Group share price is fetching $155.00 today.
Zip Co Ltd (ASX: Z1P)
Analysts at Citi have upgraded this buy now pay later provider’s shares to a buy rating with an $11.30 price target. According to the note, the broker was very pleased with Zip’s third quarter update. The highlight for Citi was its volume growth, which was underpinned by a better than expected performance by its US-based Quadpay business. The Zip share price is trading at $9.85 on Wednesday afternoon.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
- How does Afterpay’s (ASX:APT) growth rates compare to peers?
- Are brokers bullish on the Zip (ASX:Z1P) share price after quarterly results?
- ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
- Could this help the Zip (ASX:Z1P) share price catch up to Afterpay?
- 2 excellent ASX shares that could be strong buys
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 Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia has recommended Jumbo Interactive Limited and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.