Leading brokers name 3 ASX shares to buy today

Leading brokers have named Afterpay Ltd (ASX:APT) and these ASX shares as buys this week. Here's why they are bullish on them…

| More on:

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

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 shares that leading brokers have named as buys this week are listed below. Here's why they are bullish on them:

Afterpay Ltd (ASX: APT)

According to a note out of Credit Suisse, its analysts have initiated coverage on this payments company's shares with an outperform rating and $124.00 price target. Credit Suisse believes Afterpay is well-positioned for growth and has the potential to grow its underlying sales materially over the next five years. This is thanks to the structural shift to online shopping, a decline in credit card use, and its exposure to younger demographics. The latter are expected to increase their spending in the coming years. The Afterpay share price is changing hands for $96.02 this afternoon.

Fortescue Metals Group Limited (ASX: FMG)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this iron ore producer's shares to $23.00. The broker made the move in response to a significant rise in iron ore prices, which it believes will result in sizeable free cash flow yields. The broker has also lifted its earnings and dividend expectations for the next couple of years. The Fortescue share price is fetching $21.34 on Monday.

Qantas Airways Limited (ASX: QAN)

Analysts at UBS have retained their buy rating and increased their price target on this airline operator's shares to $6.20. According to the note, the broker believes that Qantas' balance sheet risk has significantly reduced recently. This is thanks to COVID vaccine developments, border re-openings, and its plan to increase capacity to 70% of pre-COVID levels. It also notes that Qantas appears to be winning market share domestically. The Qantas share price is trading at $5.46 this afternoon.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

Man with rocket wings which have flames coming out of them.
Broker Notes

These ASX 200 shares could rise 40%+

Big returns could be on offer from these shares according to analysts.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Analysts say these ASX shares are top buys in June

Brokers are urging investors to buy these shares. Let's find out why.

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a high note this Friday.

Read more »

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look on his face.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why Brainchip, Findi, Lottery Corp, and REA shares are falling today

These shares are ending the week in the red. But why?

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 shares leading the charge higher this week

Investors have been piling into these four ASX 200 shares this week. But why?

Read more »

Woman and man calculating a dividend yield.
REITs

What price target does Macquarie have on Goodman Group shares?

Goodman Group posted an interesting set of numbers in Q3. Here's Macquarie's take.

Read more »

A happy investor sits at his desk in front of his laptop and does the mexican wave with his arms to celebrate the returns from his ASX dividend shares
Share Gainers

Why Catapult, Champion Iron, Healthco, and Meeka Metals shares are pushing higher today

These shares are ending the week on a high. But why?

Read more »