Brokers name 3 ASX shares to buy right now

Brokers have named Altium Limited (ASX:ALU) and these ASX shares as buys this week. Here's why they are bullish on them…

| More on:
A compass with the word opportunities is shown in black and blue representing a broker upgrade on the EML share price

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Australia's top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a large number of broker notes this week.

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:

Altium Limited (ASX: ALU)

According to a note out of Credit Suisse, its analysts have initiated coverage on this electronic design software company's shares with an outperform rating and $42.00 price target. Its analysts are a fan of the company's shift to the cloud through its Altium 365 platform. Altium has stated that it expects this strategy to support transformation through dominance and Credit Suisse appears to agree. It sees a lot of cloud-based transformation potential over the long term. The Altium share price is trading at $35.24 this afternoon.

Nick Scali Limited (ASX: NCK)

Analysts at Canaccord Genuity have initiated coverage on this furniture retailer's shares with a buy rating and $10.75 price target. Its analysts believe Nick Scali's shares are great value at the current level and offer material upside over the next 12 months. Last month the company reported a 45% increase in total sales orders for the first three months of FY 2021. It also revealed that this positive trend has continued through October. The Nick Scali share price is fetching $8.42 on Friday.

Origin Energy Ltd (ASX: ORG)

A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $7.85 price target on this energy company's shares. The broker was pleased with management's commentary at its investor day and sees a clear path to capital returns now its balance sheet has been restored. It believes rising returns to shareholders will be the last step to drive a rebound in its share price. The Origin Energy share price is trading at $5.19 at the time of writing.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

More on Growth Shares

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Growth Shares

3 exciting ASX 200 growth shares to buy in July

Brokers think these shares could be top picks for growth investors.

Read more »

A woman sits on sofa pondering a question.
Growth Shares

Is this the best ASX 200 share to buy for growth?

This stock is exposed to multiple growth tailwinds.

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Growth Shares

Where to invest $50,000 in ASX shares

Analysts think these shares could be great destinations for your hard-earned money.

Read more »

A bland looking man in a brown suit opens his jacket to reveal a red and gold superhero dollar symbol on his chest.
Growth Shares

3 ASX 200 growth shares with room to run in FY26

Let's see why analysts think these shares are top picks for growth investors in the new financial year.

Read more »

Group of children dressed in green hold up a globe relating to climate change.
Growth Shares

3 ASX 200 shares quietly riding major global trends

Analysts think these buy-rated shares are destined to have bright futures.

Read more »

Three excited business people cheer around a laptop in the office
Growth Shares

These amazing ASX shares could be compounding machines

Let's see why these quality shares could be key to generating big returns over the next decade.

Read more »

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Growth Shares

Where to invest $5,000 in ASX shares for growth

These shares could be top picks for investors looking for growth opportunities.

Read more »

A happy young woman in a red t-shirt hold up two delicious burritos.
Growth Shares

I think these 2 exciting ASX growth shares are buys today

These compelling investments have a great outlook.

Read more »