Brokers name 3 ASX shares to buy now

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

| More on:
ASX shares Hand writing Time to Buy concept clock with blue marker on transparent wipe board.

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

Many of Australia's top brokers have been busy once again adjusting their estimates and recommendations. This has led to the release of a number of broker notes.

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:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $38.00 price target. The broker has been looking into the company's digital business and estimates that it grew very strongly during the first half. This was thanks largely to its RAID and EverMerge games, which are generating significant recurring revenues for Aristocrat. In addition to this, following a briefing last week, the broker is confident the company will emerge from the pandemic in a stronger competitive position. The Aristocrat Leisure share price is fetching $36.58 on Friday.

Hipages Group Holdings Ltd (ASX: HPG)

Analysts at Goldman Sachs have retained their buy rating and $3.10 price target on this online tradie marketplace provider's shares. According to the note, the broker believes Hipages is well-placed to benefit from strong consumer demand for tradies. This is being supported by the housing market boom and the working from home initiative. Outside this, it estimates that the company catches only 5% of tradie industry advertising spend at present. But sees scope for this to grow beyond 40% in the future. The Hipages share price is trading at $2.32 today.

Western Areas Ltd (ASX: WSA)

A note out of Ord Minnett reveals that its analysts have retained their buy rating and $3.10 price target on this nickel producer's shares. According to the note, the broker was pleased with Western Areas' quarterly update, which delivered production ahead of its estimates. This was driven by an improved performance at the Forrestania project. Overall, it appears to see a lot of value in its shares at the current level and retains its buy recommendation. The Western Areas share price is fetching $2.23 today.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Hipages Group Holdings Ltd. 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 Broker Notes

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 »

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 »

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

Guess which beaten down ASX share is rocketing 11% today

Why are investors buying this beaten down stock? Let's find out.

Read more »

Broker working with share prices on computers.
Broker Notes

These 3 ASX All Ords stocks just got sizeable broker upgrades

Top brokers expect strong performance from these ASX All Ords stocks.

Read more »

Man pointing an upward line on a bar graph symbolising a rising share price.
Broker Notes

Morgans says these ASX 200 stocks can rise 30%

Big returns could be on the cards for buyers of these shares.

Read more »

Successful group of people applauding in a business meeting and looking very happy.
Broker Notes

Top brokers name 3 ASX shares to buy today

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

Read more »

A group of stockbrokers sit in a room with several computer screens in front of them as they discuss the Zip share price and Zip's merger with Sezzle
Broker Notes

Here are the latest broker rating changes on 3 prominent ASX shares

Brokers have delivered a mixed bag this week.

Read more »

Two people climb to the summit and raise their arms in success as the sun rises brightly over the mountains.
Financial Shares

'Strong momentum': 2 ASX financial shares backed by top fundie for 2025

ASX financial shares had a strong trading session on Tuesday with several new price records set.

Read more »