Leading brokers name 3 ASX shares to buy today

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

| More on:
ASX shares Business man marking buy on board and underlining it

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

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

Jumbo Interactive Ltd (ASX: JIN)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $15.20 price target on this online lottery ticket seller's shares. The broker believes that Jumbo is well-placed to benefit from a favourable run of jackpots, underpinning higher than normal ticket sales. Morgan Stanley also suspects that COVID-19 has been supportive of a shift to online lottery ticket purchasing, which bodes well for the future. The Jumbo share price is fetching $14.03 this morning.

PointsBet Holdings Ltd (ASX: PBH)

A note out of Credit Suisse reveals that its analysts have upgraded this sports betting company's shares to an outperform rating with an improved price target of $16.15. The broker made the move following the release of PointsBet's third quarter update. It believes its update demonstrates the company's ability to grow its market share in the United States. Credit Suisse also notes that PointsBet is aiming to be active in 18 US states by the end of 2022. This will be supportive of growth in the lucrative market, where the broker believes it is currently the number four player. The PointsBet share price is trading at $14.37 on Monday.

ResMed Inc (ASX: RMD)

Analysts at Morgans have retained their add rating but trimmed their price target on this medical device company's shares to $29.14. This follows the release of a third quarter result last week which the broker felt was mixed. However, Morgans believes the headwinds the company is facing are cyclical and not structural. As a result, it believes the future remains positive for ResMed. Particularly given the upcoming launch of the next generation sleep apnoea platform, AirSense 11. The ResMed share price is fetching $25.06 on Monday morning.

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 Jumbo Interactive Limited and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Jumbo Interactive Limited, Pointsbet Holdings Ltd, and ResMed Inc. 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

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 »

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 »

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 »

Miner looking at a tablet.
Broker Notes

Why Macquarie expects this ASX 200 copper stock to surge 36% in a year

Macquarie forecasts some hefty gains ahead for the ASX 200 copper miner. But why?

Read more »

two women celebrating good news on phone
Broker Notes

Top broker names 3 ASX All Ords stocks with between 30% and 77% upside

These 3 stocks offer compelling potential upside.

Read more »

Woman on her phone with diagrams of tech sector related elements linking with each other.
Broker Notes

A leading fund manager is buying these ASX 200 tech shares

Let's see why the fund manager has these shares in its focus portfolio.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Broker Notes

Broker says these ASX 200 shares can rise 40% to 80%

Bell Potter sees scope for these shares to rocket from current levels.

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Broker Notes

How this undervalued ASX All Ords share could rocket 80% in a year

A leading fund manager expects a big turnaround for this beaten-down ASX All Ords stock.

Read more »