While a lot of analysts have now finished the holidays, a few are still working hard this week and have updated their recommendations on several ASX shares.
Listed below are three ASX shares that brokers have named as buys this week:
Booktopia Group Ltd (ASX: BKG)
According to a note out of Morgans, its analysts have retained their add rating but slashed their price target on this online book retailer’s shares to $2.78. This follows the release of a trading update which revealed guidance well short of Morgans’ estimates. This has led to the broker taking an axe to its earnings estimates for the coming years. However, it still sees enough value in Booktopia’s shares at the current level to recommend it as a buy. Particularly given its positive long term outlook due to market share gains and distribution centre automation. The Booktopia share price is trading at $1.40 on Friday.
Charter Hall Social Infrastructure REIT (ASX: CQE)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and lifted their price target on this social infrastructure-focused property company’s shares to $4.13. This follows the announcement of two new childcare portfolio acquisitions for $134.3 million and an increase to its distribution guidance for FY 2022 to 17.2 cents per share. Goldman believes the acquisitions solidify its view that the company is positioned for a solid growth outlook given its strong balance sheet with headroom and liquidity to pursue investment opportunities. The Charter Hall Social Infrastructure share price is fetching $4.00 today.
Siteminder Ltd (ASX: SDR)
Analysts at UBS have initiated coverage on this hotel commerce platform provider’s shares with a buy rating and $7.45 price target. UBS likes Siteminder due to its significant opportunity in a large and extremely fragmented market. It also notes that a good portion of its addressable market is still using manual processes and could benefit from switching to Siteminder’s platform. The Siteminder share price is trading at $6.91 today.
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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. owns and has recommended SiteMinder Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Booktopia Group Limited. 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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