Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large 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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this gaming technology company’s shares to $52.90. This follows the announcement of the proposed $5 billion acquisition of London-listed leading global online gambling software and content supplier, Playtech. Morgans notes that this will give the company immediate scale and capacity in the fast-growing online real money gaming (RMG) space. The Aristocrat share price was fetching $45.79 prior to its trading halt.
BHP Group Ltd (ASX: BHP)
Another note out of Morgans reveals that its analysts have upgraded this mining giant’s shares to an add rating with an improved price target of $46.05. While the broker remains cautious on the iron ore market and is forecasting further declines in the price of the steel making ingredient, it still sees a lot of value in the BHP share price. Particularly given its petroleum demerger and belief that BHP’s shares will offer a 10% dividend yield in FY 2022. The BHP share price is trading at $38.75 today.
IGO Ltd (ASX: IGO)
Analysts at Credit Suisse have upgraded this mining company’s shares to an outperform rating and lifted their price target on them to $10.70. According to the note, the broker made the move after increasing its valuation to reflect IGO’s exposure to the tier-one lithium business at Greenbushes. It also likes the company’s low cost profile and expansion opportunities. The IGO share price is fetching $9.70 on Wednesday afternoon.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- These are the 5 highest yielding dividend stocks in the ASX 200
- Own BHP (ASX:BHP) shares? Here’s how Twiggy is heating up competition for battery minerals
- 5 things to watch on the ASX 200 on Wednesday
- BHP (ASX:BHP) share price tumbles on Q1 update
- Why BHP, Propel, Silver Lake, and Tabcorp shares are falling
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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