Analysts name 3 ASX shares to buy now

These shares are rated very highly…

| More on:
A man holds up his hand with 3 fingers up

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

There are a good number of shares for investors to choose from on the Australian share market.

Three that could be top options right now are listed below. Here's why analysts think they are in the buy zone:

Elders Ltd (ASX: ELD)

Elders is one of Australia's largest agribusiness companies. After going through a very tough time during the 2010s, things are now looking increasingly positive for the company. This has been driven largely by the success of Elders' transformation plan and acquisitions. Pleasingly, Goldman Sachs is confident this positive form will continue. So much so, its analysts have a conviction buy rating and $15.65 price target on its shares. The broker likes Elders due to the rationalisation of the rural services industry, margin expansion through backward integration, its strong balance sheet and cash flow, and the benefits of its large scale systems modernisation project.

Healius Ltd (ASX: HLS)

Healius is one of Australia's leading pathology and diagnostic imaging providers. Its healthcare network has been performing particularly positively over the last 18 months thanks to a robust performance from its core business and elevated demand for COVID-19 testing. The good news is that this has continued in FY 2022. For example, during the first quarter, Healius reported a 43.7% increase in group quarterly revenue to $689.9 million. And while its growth rate will inevitably slow once testing demand eases, the team at Macquarie still see a lot of value in its shares at the current level. The broker currently has an outperform rating and $5.65 price target on its shares.

ResMed Inc. (ASX: RMD)

ResMed is a medical device company with a focus on the sleep treatment market. Its masks and software help sufferers of afflictions such as sleep apnoea and COPD. These are huge markets, which provide ResMed with a long runway for growth over the next decade. Particularly given its industry leadership position and high level of investment in research and development. The latter is keeping its portfolio filled with world class products. Morgans is a fan of ResMed and has an add rating and $40.80 price target on its shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders Limited 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 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 »

A car dealer stands amid a selection of cars parked in a showroom.
Broker Notes

Up 77% in a year, guess how much more upside Macquarie tips for Eagers Automotive shares

Macquarie released its latest analysis on Eagers Automotive fast rising shares this morning.

Read more »

Frustrated and shocked business woman reading bad news online from phone.
Broker Notes

Guess which ASX 200 share Goldman Sachs just downgraded

The broker is calling time on this stock's rally.

Read more »

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

These ASX 200 shares can rise 20% to 50%

Let's see which shares are being tipped to rocket from current levels.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Broker Notes

Why Guzman Y Gomez shares are a sell

Goldman Sachs has given its verdict on the burrito seller.

Read more »

A man pulls a shocked expression with mouth wide open as he holds up his laptop.
Broker Notes

Top brokers name 3 ASX shares to buy today

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

Read more »

A couple makes silly chip moustache faces and take a selfie on their phone.
Broker Notes

Macquarie sees more upside in Telstra shares – What are they worth?

Telstra shares are up 34% over the past year, and Macquarie thinks there's more to come.

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Broker Notes

What is Morgans saying about TechnologyOne, Wesfarmers, and Xero shares?

Let's see what the broker is saying about these shares.

Read more »