Leading brokers name 3 ASX shares to buy today

Leading 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:

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 many brokers taking a well-earned break over the holiday period, broker notes are few and far between right now.

In light of this, I thought I would take a look at a few that have been released over the last few weeks that remain very relevant today.

Three buy ratings that you might want to pay attention to are listed below:

Adore Beauty Group Ltd (ASX: ABY)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $8.35 price target on this online beauty retailer's shares. The broker notes that Adore Beauty's trading update reveals that trading has been strong and management has upgraded its guidance for the first half. And while it is keen to see whether this was at the expense of margin, it appears supportive of giving away margin to win market share at this stage in its growth. The Adore Beauty share price is trading at $5.65 this afternoon.

Altium Limited (ASX: ALU)

Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $40.00 price target on this electronic design software provider's shares. According to the note, the broker was pleased to see that Altium recently reaffirmed its FY 2021 guidance despite the tough operating environment. Morgan Stanley also notes that management spoke positively about the launch of its new Altium 365 platform. This is a big positive as the broker sees this cloud-based platform as the key driver of growth in the future. The Altium share price is trading at $34.33 this afternoon.

Metcash Limited (ASX: MTS)

Analysts at Citi have retained their buy rating and lifted the price target on this wholesale distributor's shares to $4.00. The broker made the move following the release of a stronger than expected first half result earlier this month. Pleasingly, the broker believes more of the same is coming in the medium term thanks largely to its Hardware business. And while it acknowledges that Food sales will inevitably moderate post-pandemic, this hasn't stopped the broker from upgrading its earnings forecasts for the next couple of years. The Metcash share price is trading at $3.45 on Tuesday.

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. 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

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was an historic day for the ASX, with the market setting a new record.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

Bell Potter says this ASX 200 stock can rise 100%+

Let's see which stock the broker is tipping as a buy to clients.

Read more »

Man sitting in a plane looking through a window and working on a laptop.
Broker Notes

Macquarie tips 28% upside for this ASX All Ords tech stock

Let's see what the broker is saying about this growth stock.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Fletcher Building, Johns Lyng, Pilbara Minerals, and Zip shares are charging higher

These shares are having a strong session on hump day. 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 Austal, Beach Energy, Perseus, and Platinum shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

A man looking at his laptop and thinking.
Broker Notes

Up 17% in 2025, how much more upside does Macquarie tip for Metcash shares?

Following Tuesday’s merger and earnings news, Macquarie changed its rating for Metcash shares.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Record Highs

Breaking: The ASX 200 just hit a new all-time high

Australian shares have exploded 16.8% higher in two months.

Read more »