Brokers are feeling bullish about 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:
Altium Limited (ASX: ALU)
According to a note out of Citi, its analysts have upgraded this electronic design software company’s shares to a buy rating with a trimmed price target of $35.40. Citi believe the weakness in the Altium share price following its results release is a buying opportunity for investors. Particularly given its solid guidance for FY 2022 and long term growth potential. The Altium share price is trading at $29.95 on Wednesday.
NEXTDC Ltd (ASX: NXT)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted their price target on this data centre operator’s shares to $15.50. Although NEXTDC fell a touch short of expectations in FY 2021, Morgan Stanley remains very bullish on its long term growth potential. This is due to structural tailwinds in the industry. All in all, the broker expects this to lead to a compound annual growth rate of 27% for its earnings over the next three years. The NEXTDC share price was fetching $13.34 today.
Webjet Limited (ASX: WEB)
Analysts at Macquarie have retained their outperform rating and lifted their price target on this online travel agent’s shares to $6.45. This follows the release of a trading update which revealed that its key WebBeds business reached profitability again in July. Macquarie sees this as a big positive and also expects a sharp rebound in bookings once lockdowns ease and border restrictions are lifted. The Webjet share price is trading at $5.74 on Wednesday.
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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Altium. The Motley Fool Australia owns shares of and has recommended Altium and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.