Insights

Top brokers name 3 ASX shares to buy today

Top brokers have named Westpac Banking Corp (ASX:WBC) and these ASX shares as buys this week. Here’s why they are bullish on them…
The post Top brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia. –

asx brokers

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:

Austal Limited (ASX: ASB)

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and $4.35 price target on this shipbuilder’s shares. The broker notes that the US Navy has released its updated long-term fleet plans. These plans include a 500 vessel fleet by 2045 and a traditional battle force fleet of 355 by 2035. Goldman believes this is a significant positive for Austal and notes its expanding total addressable market. I think Goldman makes some great points and Austal could be worth a closer look.

Coles Group Ltd (ASX: COL)

Analysts at Credit Suisse have upgraded this supermarket operator’s shares to an outperform rating with an improved price target of $20.16. According to the note, the broker has lifted its earnings estimates to partly reflect improving margins. In light of this and recent share price weakness, Credit Suisse believes now is an opportune time to buy shares. I agree with the broker on this one and would be a buyer of Coles shares.

Westpac Banking Corp (ASX: WBC)

A note out of the Macquarie equities desk reveals that its analysts have upgraded this banking giant’s shares to an outperform rating with an improved price target of $18.00. While the broker acknowledges that trading conditions will remain tough in the short term, it believes this is priced into its shares. Looking further ahead, Macquarie believes Westpac’s positive business mix is underappreciated by the market. I think Macquarie is spot on and Westpac would be a good option if you don’t already have exposure to the banking sector.

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Click Here For Your Free Stock Report

Returns As of 6th October 2020

More reading

James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Austal Limited. The Motley Fool Australia owns shares of COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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!