Brokers name 3 ASX shares to buy today

Webjet Limited (ASX:WEB) shares are one of three that brokers have named as buys this week. Here's why…

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A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.

Three shares that are in favour with brokers and have been given a buy rating are listed below. Here's why they are bullish on them:

Bapcor Ltd (ASX: BAP)

According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating but trimmed the price target on this autoparts retailer's shares to $6.85 following its investor day event. The broker believes that concerns over structural issues are unnecessary as they will not have a meaningful impact on its business for some time. In light of this, it feels Bapcor's shares are undervalued and in the buy zone. I think Macquarie makes a good point and Bapcor could be worth considering at the current level.

Stockland Corporation Ltd (ASX: SGP)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $4.72 price target on this property company's shares following its decision to sell 50% of its Aura master-planned community project to Capital Property Group for an undisclosed amount. According to the note, the broker believes the company has made a gain on sale of approximately $38 million, which it expects to result in a net uplift of 3% to its FFO per share estimates. Furthermore, based on its current share price, the broker believes Stockland will provide a 6.3% dividend yield in FY 2020. I agree with Goldman on this one and think it would be a great option for income investors.

Webjet Limited (ASX: WEB)

Analysts at UBS have retained their buy rating but trimmed the price target on this online travel agent's shares to $20.25. According to the note, the broker remains confident that Webjet will outperform the broader travel market due to structural tailwinds, acquisitions, and market share gains. In addition to this, it feels that a pullback in its share price over the last couple of months has been overdone, leaving its shares trading at a very attractive level. I think UBS is spot on and feel that Webjet would be a great investment today.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Webjet Ltd. 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.

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