Top brokers have named Collins Foods Ltd (ASX:CKF) and these ASX shares as buys. 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. –
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:
Adore Beauty Group Ltd (ASX: ABY)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $8.35 price target on this online beauty retailer’s shares. The broker was pleased with its trading update and notes that management has upgraded its guidance for the first half. And while it is keen to see whether this was at the expense of margin, it doesn’t think this is the worst idea if it was. The broker believes a focus on growth at this stage in the shift to online is a smart move. The Adore Beauty share price is trading at $6.23 this afternoon.
Breville Group Ltd (ASX: BRG)
A note out of Macquarie reveals that its analysts have upgraded this appliance manufacturer’s shares to an outperform rating with an improved price target of $27.00. According to the note, the broker believes that sales will be elevated during the holiday season due to a redirection in spending. After which, it expects consumer demand to remain strong for its products in the near term, underpinning solid earnings growth. The Breville share price is changing hands for $25.01 on Wednesday.
Collins Foods Ltd (ASX: CKF)
Analysts at Morgans have retained their add rating and lifted the price target on this quick service restaurant operator’s shares to $11.39. This follows the release of its half year results earlier this week. The broker was pleased with the result and believes it demonstrates the strength of the KFC Australia business. Morgans appears confident that the business will underpin further growth in the second half and FY 2022. This should be supported by improvements across the rest of the company as trading conditions improve. The Collins Foods share price is fetching $10.24 this afternoon.
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- Why Adore Beauty, Bank of Queensland, Bega Cheese, & McPherson’s are dropping lower
- ASX 200 up 1%: Domino’s rockets, Collins Foods delivers strong result, GPT offloads asset
- Why Collins Foods, Domino’s, Macquarie Telecom, & PolyNovo shares are charging higher
- Adore Beauty (ASX:ABY) share price lower despite upgrading guidance
Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia has recommended Collins Foods Limited. 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.