Here’s why brokers rate these ASX shares as buys…
The post Leading brokers name 3 ASX shares to buy appeared first on The Motley Fool Australia. –
With the majority of brokers across Australia taking a well-earned break, broker notes are few and far between at present.
In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here’s are three ASX shares rated as buys:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. Citi is sticking with Appen despite news that Amazon has launched a new SageMaker Ground Truth Plus service that uses an expert workforce to deliver high-quality training datasets faster. The broker believes that while competition in the Enterprise space may increase, competition with Appen’s major technology customers shouldn’t be impacted. The Appen share price is trading at $10.75 before the break.
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
A note out of Morgans reveals that its analysts have retained their add rating and $31.00 price target on this banking giant’s shares. Morgans remains positive on the banking sector as a whole and believes there is potential for further capital management and generous dividends in the near term. Its analysts also expect rising interest rates to be supportive of earnings growth in the coming years. The ANZ share price last traded at $27.46.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Citi reveals that its analysts have retained their buy rating and $13.80 price target on this wine company’s shares. Citi came away from a key industry event in the United States feeling very positive. It notes that the update pointed to a recovery in high-margin on-premise and cellar-door wine sales in the United States. This is consistent with recent feedback from rival Duckhorn. In light of this, the broker is forecasting Treasury Americas’ first half EBITS to increase by 19% despite the divestment of commercial wine brands in March 2021. The Treasury Wine share price was trading at $12.20 at the end of last week.
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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. owns and has recommended Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool Australia has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.