Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Accent Group Ltd (ASX: AX1)
According to a note out of Citi, its analysts have retained their buy rating and $2.85 price target on this retailer’s shares. This follows Accent’s investor day event earlier this week. Citi was pleased with the investor day presentation and the notes the company’s entrepreneurial spirit. Accent announced yet another new store brand launch at the event – 4 Workers. While it acknowledges that not all new launches will be a success, it believes the company is well-placed to get behind the ones that do and super charge their growth. The Accent share price is trading at $2.39 this afternoon.
Brickworks Limited (ASX: BKW)
A note out of Ord Minnett reveals that its analysts have initiated coverage on this building products company’s shares with a buy rating and $25.50 price target. According to the note, the broker believes that Brickworks is well-positioned to benefit from improving housing activity in Australia. In addition to this, the broker is a fan of the company’s property business and believes this offers potential upside. The Brickworks share price is fetching $20.29 on Friday.
Temple & Webster Group Ltd (ASX: TPW)
Analysts at Morgan Stanley have retained their overweight rating and $14.00 price target on this online furniture and homewares retailer’s shares. According to the note, the broker believes that Temple & Webster’s shares are good value at the current level. Furthermore, based on its current growth profile, it believes the company is cheaper than other ecommerce companies. It suspects Temple & Webster could increase its sales to $1.5 billion by FY 2030. This compares to annualised sales of $320 million it achieved in the first half. The Temple & Webster share price is trading at $10.07 on Friday afternoon.
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More reading
- Brokers are bullish on these 4 ASX 200 shares
- ASX 200 rises, Brickworks builds, Netwealth sinks
- 2 ASX 200 shares that keep growing their dividends
- Why Brickworks, McPherson’s, MedAdvisor, & Premier Investments are storming higher
- ASX 200 up 0.3%: Brickworks impresses, Resolute hammered, Netwealth crashes
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Brickworks. The Motley Fool Australia has recommended Accent Group and Temple & Webster Group Ltd. 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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