Insights

Top brokers name 3 ASX shares to buy today

Brokers have been running the ruler over these ASX shares…
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 Morgan Stanley, its analysts have retained their overweight rating and $10.00 price target on this regional bank’s shares. The broker notes that Bank of Queensland plans to make a collective provision release of $75 million thanks to Australia’s improving economy. This was more than the broker was expecting, which it notes means there is upside risk to its earnings estimates this year. Outside this, it likes the bank due to the solid operating environment and its strong franchise performance. The Bank of Queensland share price is trading at $8.90 today.

Coles Group Ltd (ASX: COL)

A note out of Macquarie reveals that its analysts have upgraded this supermarket operator’s shares to an outperform rating with an improved price target of $18.20. Macquarie made the move on valuation grounds and its preference for exposure to consumer staples. It also believes Coles will benefit from the normalisation of shopping trends post-pandemic. The Coles share price is currently fetching $17.01.

SEEK Limited (ASX: SEK)

Another note out of Macquarie reveals that its analysts have upgraded this job listings company’s shares to an outperform rating with an improved price target of $40.00. The broker made the move on the belief that SEEK is going to benefit from a significant increase in yields. It believes the removal of discounts will lead to a 9% yield tailwind. Macquarie is also expecting the Australian unemployment rate falling from 5.5% to closer to 4% during 2023, underpinning a 25% increase in ad volumes in FY 2022. The SEEK share price is trading at $32.78 this morning.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

ASX 200 up 0.35%: SEEK upgraded, Afterpay lower

Top broker tips Bank of Queensland (ASX:BOQ) share price to charge higher
2 top ASX dividend shares for income investors

5 things to watch on the ASX 200 on Wednesday

ASX 200 rises, Nuix jumps, REA buys stake of Simpology

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COLESGROUP DEF SET. 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!