Brokers name 3 ASX shares to buy now

Brokers have named REA Group Limited (ASX:REA) 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:

Carsales.Com Ltd (ASX: CAR)

According to a note out of UBS, its analysts have retained their buy rating and $24.50 price target on this auto listings company's shares. This follows news that the company is acquiring a 49% stake in US online marketplace Trader Interactive. The broker appears supportive of the acquisition. However, it intends to do more analysis before updating its financials and recommendation further. The Carsales share price was fetching $19.51 prior to its trading halt.

Estia Health Ltd (ASX: EHE)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this aged care operator's shares to $3.15. The broker notes that the aged care sector is set to benefit from additional funding following the Federal Budget. In addition to this, it likes Estia Health ahead of its rivals due to its strong balance sheet and attractive valuation. Macquarie estimates that Estia Health's shares are trading at ~17x FY 2022 earnings. The Estia Health share price is trading at $2.56 today.

REA Group Limited (ASX: REA)

Analysts at Morgan Stanley have retained their overweight rating and $175.00 price target on this property listings company's shares. The broker has been looking at the Federal Budget and sees a few positives for REA Group. Outside this, the broker continues to believe REA Group is well-placed for earnings growth thanks to a rebound in Melbourne and Sydney listings and higher property churn. The latter is being driven by people rethinking where they want to live following the pandemic. The REA Group share price is fetching $149.82 this morning.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended carsales.com Limited and REA Group Limited. 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

Woman in celebratory fist move looking at phone
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to almost 30%

Analysts are tipping these shares to deliver big returns over the next 12 months.

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 »

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 »