Insights

Top brokers name 3 ASX shares to buy today

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:

Baby Bunting Group Ltd (ASX: BBN)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this baby products retailer’s shares to $6.11. This follows the release of a trading update at its annual general meeting this week. The broker was pleased with Baby Bunting’s update and particularly the progress it is making with its exclusive and private label sales. These are nearing target levels well ahead of expectations. Citi was also pleasantly surprised with its gross margin. The Baby Bunting share price is trading at $5.49 this afternoon.

Magellan Financial Group Ltd (ASX: MFG)

A note out of Macquarie reveals that its analysts have upgraded this fund manager’s shares to an outperform rating but cut the price target on them to $38.00. Macquarie made the move on valuation grounds following a significant de-rating. And while the broker believes that fund flows are likely to remain under pressure for the rest of FY 2022, it feels its shares are too cheap to ignore now. Especially given the potential for a dividend yield of ~7% this financial year. The Magellan share price is fetching $32.06 on Thursday.

Sonic Healthcare Limited (ASX: SHL)

Analysts at Morgan Stanley have retained their overweight rating and $45.50 price target on this healthcare company’s shares. According to the note, the broker has been looking at the performance of European peer Synlab. It notes that Synlab has increased its guidance to reflect higher COVID-19 testing demand. Given the similarities, the broker suspects that Sonic could be benefitting as well. It feels this creates upside risk to revenue and earnings forecasts. The Sonic share price is trading at $40.23 today.

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 August 16th 2021

More reading

Why A2 Milk, CBA, Flight Centre, & Magellan’s shares are sinking

Why Afterpay, Austal, Baby Bunting, & Nick Scali shares are storming higher

The Magellan (ASX:MFG) share price is in focus on $1.5 billion FUM outflow
Why this broker just upgraded the Baby Bunting (ASX:BBN) share price to buy
Baby Bunting (ASX:BBN) share price drops following trading update

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Baby Bunting and Sonic Healthcare 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!