Brokers have named Australia and New Zealand Banking GrpLtd (ASX:ANZ) and these ASX shares as buys this week. Here’s why they are bullish on them…
The post Brokers name 3 ASX shares to buy right now appeared first on The Motley Fool Australia. –
Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.
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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this banking giant’s shares to $29.50. The broker was pleased with ANZ’s first quarter update, which was far better than it expected thanks to its strong net interest margin. This stronger result has led to the broker making positive revisions to its earnings forecasts, which led to the price target increase. The ANZ share price is trading at $26.50 this afternoon.
Coles Group Ltd (ASX: COL)
Analysts at Morgans have retained their add rating and increased their price target on this supermarket operator’s shares to $19.45. According to the note, Coles delivered a first half result ahead of its expectations. One slight disappointment, though, was management conceding that its growth could decline in the second half and into FY 2022. Nevertheless, the broker sees value in the Coles share price at the current level and holds firm with its add rating. The Coles share price is fetching $16.44 on Friday.
Webjet Limited (ASX: WEB)
A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this online travel agent’s shares to $5.75. According to the note, Webjet’s half year results were disappointing. However, management’s commentary supports its view that there is pent-up leisure travel demand. It expects this demand, market share gains, and its cost cutting to support a strong rebound in profitability in FY 2022. The Webjet share price is on course to end the week at $4.95.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.