Once again, with the majority of brokers across Australia taking a well-earned break, broker notes will be few and far between over the next couple of weeks.
In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here are three ASX shares rated as buys:
Accent Group Ltd (ASX: AX1)
According to a note out of UBS, its analysts have initiated coverage on this footwear retailer’s shares with a buy rating and $3.00 price target. UBS believes Accent is well-placed for growth post-COVID. It also sees opportunities for the company’s margins to expand and its store network to grow in the coming years. The Accent share price is trading at $2.45 this afternoon.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie have upgraded this medical device company’s shares to an outperform rating with a $39.00 price target. Although the broker acknowledges that supply chain issues are putting pressure on near term device supply, its analysts remain bullish. This is due to an expected increase in industry volume growth from 2023 and market share gains for ResMed. Macquarie believes this will support revenue and earnings growth ahead of current consensus estimates. The ResMed share price is fetching $36.08 today.
Santos Ltd (ASX: STO)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this energy producer’s shares slightly to $8.65. This follows a review of Santos’ merger with fellow energy producer Oil Search. Morgans is positive on the company’s outlook and sees upside risk from the potential sale of stakes in some of its assets. All in all, the broker believes the merger leaves Santos well positioned to control its own future in difficult ESG-driven debt and equity markets. The Santos share price is trading at $6.51 on Wednesday afternoon.
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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 recommended Accent Group and ResMed Inc. 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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