Leading brokers name 3 ASX shares to buy today

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

| More on:
A female stockbroker reviews share price performance in her office with the city shown in the background through her windows

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

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

Fletcher Building Limited (ASX: FBU)

According to a note out of Goldman Sachs, its analysts have initiated coverage on this building products company's shares with a buy rating and $5.90 price target. Goldman notes that Fletcher Building's shares are trading on a forward PE ratio of 8.5x and at a 41% discount to the S&P/ASX 200 index. It points out that this is notably lower than average multiples and broadly in line with GFC levels. And while the broker accepts that its key markets are near cyclical highs, it feels this is more than priced in. The Fletcher Building share price is trading at $4.67 today.

IDP Education Ltd (ASX: IEL)

A note out of UBS reveals that its analysts have retained their buy rating on this language testing and student placement company's shares with a slightly trimmed price target of $35.25. The broker has been looking at visa data and believes that growth in key markets points to positive trading conditions for IDP Education. Overall, it is positive on the company's outlook and sees plenty of value in its shares at the current level. The IDP share price is fetching $29.57 on Monday.

Monash IVF Group Ltd (ASX: MVF)

Analysts at Macquarie have retained their outperform rating and $1.30 price target on this fertility treatment company's shares. Although IVF treatments fell slightly in October according to Medicare data, the broker notes that this followed a big increase in September. In addition, Macquarie believes Monash IVF is well-placed to grow quicker than the market and grow its share. This bodes well for its earnings growth in FY 2023 and beyond. The Monash IVF share price is trading at $1.00 this afternoon.

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 positions in and has recommended Idp Education Pty Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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

Person pointing finger on on an increasing graph which represents a rising share price.
Broker Notes

These ASX shares could rise 20% to 30%

Big returns could be on the cards for buyers of these shares according to analysts.

Read more »

Modern accountant woman in a light business suit in modern green office with documents and laptop.
Broker Notes

All about the momentum: Which ASX 200 stocks does Macquarie currently favour?

These stocks have strong positive momentum.

Read more »

Woman checking out new iPads.
Broker Notes

'Lock in profits at these levels': Expert's verdict on 2 ASX 200 shares

Tony Locantro of Alto Capital says it might be time to take profits on these high-flying ASX 200 shares.

Read more »

Woman on the phone at a hardware store.
Broker Notes

Up 21% this year, how much further upside does Macquarie tip for Metcash shares?

Metcash shares tick many boxes for investors.

Read more »

A man slumps crankily over his morning coffee as it pours with rain outside.
Broker Notes

Guess which popular ASX 200 stock Bell Potter just downgraded

Let's see what the broker is saying on this blue chip.

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
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 shares.

Read more »

Miner standing in a mine site with his arms crossed.
Broker Notes

Up 41% in 2025, does Macquarie think Lynas Rare Earths shares have peaked?

The company is up nearly 400% in 5 years.

Read more »

Three miners looking at a tablet.
Broker Notes

Macquarie tips 28% upside for this ASX All Ords mining stock

Let's see why the broker is bullish on this beaten down miner.

Read more »