2 market-leading ASX shares rated as strong buys by brokers

Goodman and Elders are both liked by brokers.

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Brokers and analysts are always keeping an eye out for potential ASX share opportunities.

Share prices are changing every day and can change quite significantly over the weeks. So, potential ideas can open up pretty quickly.

There is a group of businesses that multiple brokers rate as buys, which may suggest there is an opportunity. Or perhaps all of those brokers are simultaneously wrong. Having said that, here are two ASX shares that are buy-rated by several analysts at the moment:

Elders Ltd (ASX: ELD)

Elders is a 180-year-old agribusiness which operates across several sectors including helping farmers with agricultural production, crop growth, financial planning, insurance, home loans and real estate.

It's currently rated as a buy by at least three brokers including Citi which has a buy rating on the business with a price target of $13.75. The broker was pleased by the recent FY21 result, beating expectations, and notes the good outlook for FY22.

Elders reported in FY21 that sales revenue increased 22% to $2.55 billion, with underlying earnings before interest and tax (EBIT) rising 38% to $166.5 million and underlying profit after tax jumping 40% to $151.1 million. The total dividend per share for FY21 was increased by 91%.

The ASX share's outlook was positive, with Elders saying that continued favourable seasonal conditions and high demand for agricultural commodities are expected to create "excellent" trading conditions in the first half of FY22.

Rural products' outlook remains positive with the summer crop expected to drive strong demand in the first half of FY22, particularly for agricultural chemicals, fertiliser and seed. Global supply constraints are being actively managed through forward orders and diversifying the risk across suppliers, though higher costs are expected.

Cattle, sheep and farmland prices are expected to remain high. Elders could also make more acquisitions.

Goodman Group (ASX: GMG)

Goodman is a global industrial property business which is currently rated as a buy by at least four brokers, including Morgan Stanley which has a price target of $26.50 on the business.

The broker notes the ongoing positive environment for Goodman in the industrial property space, with an upgrade to profit expectations for FY22.

For the three months to September 2021, the ASX share said that the results of the deliberate positioning of its portfolio over the last decade to adapt to and leverage the changes in the digital economy are now being realised. The customer demand for high-quality properties close to consumers "has never been greater".

That demand is resulting in rental growth, increased development activity, a stronger than expected performance from its partnerships and generally higher levels of profitability, leading to upgraded earnings guidance for FY22. It's now expecting operating earnings per security (EPS) to grow by at least 15%.

It had $62 billion of total assets under management (AUM), with expectations of reaching around $70 billion by June 2022 thanks to valuation gains and significant rental growth. Across its partnerships, it saw 3.2% like for like net property income growth with a 98.4% occupancy rate.

The ASX's share development work in progress has reached $12.7 billion with an annual production rate for the year expected to be approximately $6.8 billion. . These developments are driving "strong margins" and the yield on cost is currently 6.8%.

Motley Fool contributor Tristan Harrison 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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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