Leading brokers name 3 ASX shares to buy today

ASX shares Business man marking buy on board and underlining it

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

Macquarie Group Ltd (ASX: MQG)

According to a note out of Citi, its analysts have retained their buy rating and $226.00 price target on this investment bank’s shares. Citi notes that Macquarie’s shares have risen strongly this year. However, it still believes they can keep rising due to favourable tailwinds such as commodity price volatility and higher energy prices. The latter are supporting its gas marketing business. The Macquarie share price is trading at $202.05 on Monday afternoon.

Oil Search Ltd (ASX: OSH)

A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this energy company’s shares to $5.65. UBS has upgraded the company’s earnings estimates to reflect higher oil price forecasts due to tighter than expected supply. In addition, the broker notes that the independent expert has recommended the Oil Search-Santos Ltd (ASX: STO) merger. UBS feels this development has de-risked things materially. The Oil Search share price is fetching $4.28 today.

Rio Tinto Limited (ASX: RIO)

Another note out of Citi reveals that its analysts have retained their buy rating and $115.00 price target on this mining giant’s shares. Citi likes Rio Tinto due to its bullish view on aluminium, which it expects to fall into a deep deficit in 2022. In addition, the broker believes the company will benefit from Chinese demand for higher grade iron ore. The Rio Tinto share price is trading at $91.97 this afternoon.

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

Should you invest $1,000 in Rio Tinto right now?

Before you consider Rio Tinto, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rio Tinto wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

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 owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3nhQvyd

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s