Brokers name 3 ASX shares to buy today

ASX shares Business man marking buy on board and underlining it

It has been another busy week for Australia’s top brokers. This has led to the release of a large 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:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and $50.30 price target on this gaming technology company’s shares. The broker has been looking at Aristocrat’s digital business and believes that recent regulatory pressure will lead to a reduction in the company’s platform fees in the future. Credit Suisse has previously estimated that Aristocrat will pay upwards of $700 million in royalties to mobile platforms like Apple and Google in 2021. The Aristocrat Leisure share price is fetching $45.31 today.

JB Hi-Fi Limited (ASX: JBH)

A note out of Citi reveals that its analysts have upgraded this retail giant’s shares to a buy rating with a slightly trimmed price target of $53.00. The broker made the move on valuation grounds after a sizeable pullback. Citi highlights that JB Hi-Fi’s shares are trading at a significantly greater than normal discount to the average multiple of the ASX 200 excluding resources. The JB Hi-Fi share price is trading at $44.94 today.

South32 Ltd (ASX: S32)

Another note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $4.40. This follows news that South32 has signed an agreement to acquire a further 25% stake in the Mozal aluminium smelter in Mozambique for $250 million. The broker expects this to lead to a notable increase in its aluminium production output. Which is very good news given Credit Suisse’s positive outlook for the metal. The South32 share price is fetching $3.52 on Friday.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. 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 Bruce Jackson.

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