Leading brokers name 3 ASX shares to buy today

Here's why brokers rate these ASX shares as buys…

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

Allkem Ltd (ASX: AKE)

According to a note out of UBS, its analysts have retained their buy rating on this lithium miner's shares with an improved price target of $18.60. UBS notes that Allkem's results fell short of expectations and the company's production guidance for Mt Cattlin was downgraded just weeks after giving it. However, the broker is overlooking this due to the belief that lithium prices will be higher for longer. The Allkem share price is trading at $13.80 on Monday.

Costa Group Holdings Ltd (ASX: CGC)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this horticulture company's shares to $3.35. This follows the release of a half year result that was in line with expectations. And while wet weather has forced a reduction in Morgans' earnings estimates and valuation, it still believes that its shares are significantly undervalued at current levels. The Costa share price is fetching $2.68 this afternoon.

Ramsay Health Care Limited (ASX: RHC)

Analysts at Citi have upgraded this private hospital operator's shares to a buy rating with an $85.00 price target. While the broker has reduced its earnings estimates to reflect a slower than expected recovery from the pandemic, it remains positive that one is coming. But perhaps the main catalyst for the upgrade is Citi's belief that there's a reasonable chance that private equity firm KKR will come back with another takeover offer in the near future. The Ramsay share price is trading at $70.13 today.

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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 Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

young woman reviewing financial reports at desk with multiple computer screens
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these stocks.

Read more »

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 »