Leading brokers name 3 ASX shares to buy today

Leading brokers have named A2 Milk Company Ltd (ASX:A2M) 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:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Morgans, its analysts have retained their add rating but slashed the price target on this infant formula company's shares to $12.20. The broker notes that the company has reduced its guidance due to weaker than expected trading in the daigou channel. And while Morgans has reduced its earnings forecasts by almost a third for the next three years, it still believes its shares are good value at the current level. Especially given its strong performance on mainland China. The a2 Milk share price is trading at $10.22 this afternoon.

ELMO Software Ltd (ASX: ELO)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted the price target on this cloud-based HR and payroll platform provider's shares to $9.70. This follows the announcement of its acquisition of Webexpenses last week. Its analysts believe there are meaningful cross selling opportunities from the deal. And given its current share price, the broker feels the risk/reward on offer with its shares is compelling. The ELMO share price is fetching $6.60 on Monday.

Nufarm Ltd (ASX: NUF)

Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $4.80 price target on this agricultural chemicals company's shares. It was pleased with the company's improved performance during October and November. And while it isn't getting overly carried away and notes that its key trading periods are still to come, it is certainly a positive. Especially given how it is experiencing growth in all segments. The Nufarm share price is trading at $4.29 today.

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 Elmo Software. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended Elmo Software. 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

Young girl drinking milk showing off muscles.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a great end to the trading week for ASX investors today.

Read more »

Hands reaching high for a trophy with a sunset in the background.
Record Highs

The ASX 200 Index is on its way to another all-time high today. Here's why

These blue chip stocks are driving the index towards a new record today...

Read more »

Group of friends trading stocks on their phones. symbolising the 3 most traded ASX 200 shares today
Share Market News

3 ASX mining stocks topping the most-traded list in October

Chinese stimulus news and company announcements likely contributed to the higher trading activity.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

3 ASX 200 stocks smashing the benchmark this week

These three ASX 200 stocks are leading the charge this week. Here’s how.

Read more »

Two people tired and resting after sports race.
Broker Notes

Fundie rates 2 ASX 200 stocks in short-term pain but with long-term gain potential

Blackwattle Investment Partners sees these 2 ASX 200 stocks as worthy of a buy and hold strategy.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why A2 Milk, EOS, GQG, and Mineral Resources shares are racing higher today

These shares are ending the week strongly. But why?

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 Megaport, Pilbara Minerals, Vysarn, and WiseTech shares are falling today

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

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
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 »