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:
BHP Group Ltd (ASX: BHP)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $56.00. The broker remains positive on BHP due to the diversity of its operations. It notes that while iron ore prices have tumbled, BHP is still benefiting from strong copper and coal prices. The BHP share price is trading at $37.46 on Monday afternoon.
Orocobre Limited (ASX: ORE)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this lithium miner’s shares to $11.80. The broker made the move after upgrading its lithium price forecasts to reflect recent strong rises in China. This has led to an increase in its earnings estimates and valuation for the lithium miner. The Orocobre share price is fetching $8.61 this afternoon.
Webjet Limited (ASX: WEB)
Analysts at UBS have retained their buy rating and lifted their price target on this online travel agent’s shares to $6.85. According to the note, the broker has been looking at the vaccine rollout in Australia and was pleased with the progress that is being made. It feels this is a big positive for travel shares such as Webjet and appears to believe this could be a boost to bookings in the near term. The Webjet share price is trading at $5.81 on Monday afternoon.
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How has the Webjet (ASX:WEB) share price performed since reporting FY21 results?
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Motley Fool contributor James Mickleboro owns shares of Orocobre Limited. 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 Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.