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:
Accent Group Ltd (ASX: AX1)
According to a note out of Morgan Stanley, its analysts have upgraded this footwear retailer’s shares to an overweight rating with an improved price target of $2.60. The broker believes that Accent could open more stores than expected in FY 2022. Particularly given how 65 stores are already mostly signed and sealed. In addition to this, the broker sees opportunities for Accent to expand its Stylerunner brand overseas. The Accent share price is fetching $2.30 this afternoon.
IDP Education Ltd (ASX: IEL)
A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this language testing company’s shares to $36.40. The broker believes the worst is behind the company after a tough year and remains positive on its growth outlook. Particularly given improving trading conditions in India and the vaccination rollout in Australia. The IDP Education share price is trading at $32.83 on Wednesday.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Macquarie have retained their outperform rating and $2.70 price target on this lithium miner’s shares. This follows the completion of its second online spodumene auction. Macquarie notes that Pilbara Minerals commanded a price significantly higher than it was forecasting. It believes this is a sign that positive price momentum is likely to continue. In light of this, it remains very positive on the company’s outlook. The Pilbara Minerals share price is fetching $2.44 on Wednesday.
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Motley Fool contributor 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 has recommended Idp Education Pty Ltd. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.