Top brokers name 3 ASX shares to buy today

Investors may want to check out these ASX shares that have just been named as buys…

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Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

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

Collins Foods Ltd (ASX: CKF)

According to a note out of Morgans, its analysts have retained their add rating on this KFC restaurant operator's shares and lifted their price target to $10.50. This follows the release of its full-year results, which came in ahead of expectations. Morgans was also pleased with its better-than-expected outlook for FY 2024. The Collins Foods share price was trading at $9.94 on Wednesday.

Elders Ltd (ASX: ELD)

A note out of Bell Potter reveals that its analysts have upgraded this agribusiness company's shares to a buy rating with a $7.25 price target. The broker made the move on valuation grounds, highlighting that its shares are trading at ~6 times Normalised EBITDA, which is a reasonably large discount to its post-recapitalisation average. As a result, it sees its share price as now representing value through the cycle. The Elders share price was fetching $6.63 today.

TechnologyOne Ltd (ASX: TNE)

Analysts at Goldman Sachs have upgraded this enterprise software provider's shares to a buy rating with an $18.30 price target. The broker believes that TechnologyOne's shares are good value at the current level. Particularly given how its dominant market position, defensive end markets, and mission-critical systems are deserving of a premium valuation. The TechnologyOne share price was trading at $15.44 this afternoon.

Motley Fool contributor James Mickleboro has positions in Collins Foods. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Collins Foods, Goldman Sachs Group, and Technology One. The Motley Fool Australia has recommended Collins Foods, Elders, and Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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