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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Citi, its analysts have retained their buy rating and $7.30 price target on this infant formula company’s shares. The broker remains positive on A2 Milk due to its strong brand health in China and improved inventory position. Citi is also optimistic that management’s new strategy will support its performance in the coming years. Particularly if other struggling foreign brands decide to exit China. The A2 Milk share price is trading at $5.51 on Tuesday.
Costa Group Holdings Ltd (ASX: CGC)
A note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed their price target on this horticulture company’s shares to $3.41. While the broker has reduced its earnings estimates to reflect new leases, it isn’t enough to change its positive view. Macquarie continues to believe that weakness in the Costa share price in 2021 is a buying opportunity this year. The Costa share price is fetching $2.97.
Incitec Pivot Ltd (ASX: IPL)
Analysts at Morgan Stanley have retained their overweight rating and $4.30 price target on this agricultural chemicals company’s shares. This follows news that the company is acquiring European rival Titanobel. Morgan Stanley believes this is a good move by management. And while the European market is not a quick-growing one, the broker expects the synergies to boost its earnings. The Incitec Pivot share price is trading at $3.43 this afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why you shouldn’t expect the A2 Milk (ASX:A2M) share price to bounce back in 2022
- Incitec Pivot (ASX:IPL) share price higher on $142m acquisition
- These were the 5 worst performing ASX 200 shares in 2021
- Analysts tip A2 Milk (ASX:A2M) and this share as buys
- Down 50%: Broker tips A2 Milk (ASX:A2M) and this ASX share to rebound in 2022
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 A2 Milk and COSTA GRP FPO. 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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