Brokers name 3 ASX shares to buy now

Brokers have named Telstra Corporation Ltd (ASX:TLS) and these ASX shares as buys this week. Here's why they are bullish on them…

| More on:
asx buy

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

Australia's top brokers have been busy adjusting their estimates and recommendations once again. 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:

Premier Investments Limited (ASX: PMV)

According to a note out of Macquarie, its analysts have retained their outperform rating and $31.00 price target on this retail conglomerate's shares. The broker has been looking at the UK market and was pleased to see strong retail sales growth following the reopening of the economy. Overall, it believes this demonstrates how Premier Investments is well-placed to benefit from a combination of the global economic reopening and organic growth. The Premier Investments share price is fetching $25.56 today.

REA Group Limited (ASX: REA)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this property listings company's shares to $179.10. According to the note, the broker was pleased with REA Group's third quarter update. And while it feels that the Australian property market is losing a bit of steam and buyers are becoming more cautious, it remains very positive on its medium term growth prospects. This is thanks to its sales mix shift and depth products growth. The REA Group share price is fetching $155.89 today.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Ord Minnett have retained their buy rating and lifted their price target on this telco giant's shares to $4.10. According to the note, the broker is expecting Telstra's average revenue per user (ARPU) metric to increase in FY 2022 thanks to mobile plan price increases from both it and rival Optus. In addition to this, due to Telstra's leadership position in 5G, the broker is predicting market share gains in the post-paid market. The Telstra share price is trading at $3.46 today.

More on Broker Notes

Man jumps for joy in front of a background of a rising stocks graphic.
Broker Notes

These ASX 200 shares could rise 20% to 50%

Looking for big returns? Brokers think these shares could do the job.

Read more »

A young man sits at his desk working on his laptop with a big smile 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 »

man thinking about whether to invest in bitcoin
Broker Notes

Why Macquarie expects this ASX 200 dividend stock to keep outperforming

Macquarie has tipped this ASX 200 dividend stock to outperform. Let’s find out why.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Broker Notes

These ASX 200 shares could rise 20% to 35%

These shares are being tipped to deliver market-beating returns by analysts.

Read more »

Keyboard button with the word sell on it.
Broker Notes

8 ASX All Ords stocks downgraded to sell ratings

Find out which shares are out of favour with the experts.

Read more »

Woman smiling whilst shopping in a clothing store.
Dividend Investing

Why this quality ASX 300 dividend stock is tipped to surge 54%

A leading fund manager forecasts significant outperformance from this quality ASX 300 dividend stock.

Read more »

A group of businesspeople clapping.
Broker Notes

Bell Potter names more of the best ASX 200 stocks to buy in June

These stocks could be best buys this month according to the broker.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Broker Notes

Why Macquarie forecasts this ASX All Ords media company is set to surge 19%

Up 42% in 2025, here’s why this ASX All Ords media stock could keep racing higher into 2026.

Read more »