Here’s why brokers rate these ASX shares as buys…
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –
With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
APA Group (ASX: APA)
According to a note out of Ord Minnett, its analysts have upgraded this energy infrastructure company’s shares to a buy rating with a $10.75 price target. The broker has been looking at the utilities sector and believes APA is the top option. This is due to its strong free cash flows and growth opportunities. The latter includes both organic and inorganic opportunities. The APA share price is trading at $9.26 today.
GUD Holdings Limited (ASX: GUD)
A note out of Citi reveals that its analysts have upgraded this diversified products company’s shares to a buy rating with a $12.30 price target. The broker made the move on valuation grounds following a sizeable pullback in its share price. Citi believes this has left its shares trading at an attractive level, particularly in comparison to peers. The GUD share price is fetching $10.97 on Monday afternoon.
Qantas Airways Limited (ASX: QAN)
Analysts at UBS have retained their buy rating and lifted their price target on this airline operator’s shares to $6.25. According to the note, the broker believes that Qantas will be a stronger airline on the other side of the pandemic. It is also expecting the company’s profits to exceed pre-pandemic levels in FY 2024. This is expected to be underpinned by pent-up demand and its transformation program. The Qantas share price is trading at $5.40 on Monday afternoon.
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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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended APA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.