Brokers name 3 ASX shares to buy today

ASX shares Business man marking buy on board and underlining it

ASX shares Business man marking buy on board and underlining itASX shares Business man marking buy on board and underlining it

It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

GUD Holdings Limited (ASX: GUD)

A note out of Citi reveals that its analysts have retained their buy rating and $15.70 price target on this specialist products company’s shares. Citi has been looking at the auto parts industry and picked out GUD as its preferred exposure. It expects the company’s Automotive business to benefit from consumers holding onto their cars for longer. This is expected to underpin demand for after market car parts. GUD owns the Ryco, Wesfil, Goss, Narva and Projecta brands. The GUD share price is fetching $12.13 today.

Qantas Airways Limited (ASX: QAN)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $7.00 price target on this airline operator’s shares. This follows the release of a trading update which revealed that Qantas is cutting its third quarter capacity in response to rising COVID cases. Morgan Stanley suspects these changes could hit its earnings by $340 million and has therefore reduced its FY 2022 underlying earnings estimate to $210 million. The Qantas share price is trading at $5.01 on Friday afternoon.

TPG Telecom Ltd (ASX: TPG)

Analysts at Ord Minnett have upgraded this telco giant’s shares to a buy rating with an improved price target of $7.45. According to the note, the broker believes TPG’s shares are good value given its favourable outlook from a post-COVID recovery. This is expected to be underpinned by subscriber growth and better mobile pricing. It also sees opportunities to unlock value from asset monetisation. The TPG share price is fetching $6.39 today.

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

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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 TPG Telecom Limited. 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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