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 shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Costa Group Holdings Ltd (ASX: CGC)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this horticulture company’s shares to $3.70. This follows the release of its half year results last week, which were in line with the broker’s estimates. This was driven by a better than expected performance from its International segment, which offset a weaker than forecast performance from its Produce segment. Morgans was also pleased with management’s commentary and expects a strong second half. I think Costa could be worth a closer look.
Flight Centre Travel Group Ltd (ASX: FLT)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating but trimmed the price target on this travel company’s shares to $15.00. According to the note, the broker is pleased with its liquidity levels and the material reduction in its cost base. And while it expects total transaction value to fall significantly in FY 2021, it still sees value in its shares at the current level. I’m not as positive on Flight Centre and intend to stay clear of it until travel markets return to normal.
NEXTDC Ltd (ASX: NXT)
Analysts at Goldman Sachs have retained their buy rating and lifted the price target on this data centre operator’s shares to $13.20. This follows the release of its full year results last week, which were slightly ahead of the broker’s expectations. The broker was pleased with its revenue outlook and has upgraded its forecasts accordingly. I agree with Goldman Sachs and believe NEXTDC would be a great long term investment option.
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More reading
- ASX 200 edges higher: Fortescue sinks, NAB sells MLC Wealth, Costa jumps
- Why Costa, Harvey Norman, NEXTDC, & Splitit shares are charging higher today
- Why the Nextdc share price gains could be just beginning
- How to invest in ASX shares in uncertain times?
- ASX reporting season heroes to buy for FY21
Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Leading brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia.
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