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:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating and $14.80 price target on this artificial intelligence data services company’s shares. The broker has been looking into recent industry developments and doesn’t believe the Meta (Facebook) high-performance self-supervised algorithm, data2vec, is an imminent threat to Appen’s business. Particularly not for its Relevance business. In addition, it sees opportunities for Appen to shift to more complex work that would be out of reach for this algorithm. The Appen share price is trading at $9.40 today.
Aristocrat Leisure Limited (ASX: ALL)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $46.00 price target on this gaming technology company’s shares. While the broker acknowledges that Aristocrat’s failure to close the acquisition of Playtech is disappointing, it remains positive on the future. This is due to its strong performance and outlook of the core business and its mountain of cash following its capital raising. The Aristocrat share price is fetching $41.04 on Friday.
Westpac Banking Corp (ASX: WBC)
Analysts at Morgans have retained their add rating and $29.50 price target on this banking giant’s shares following its first quarter update. According to the note, Morgans believes that Westpac’s update supports its view that the challenges the bank is facing are not unsurmountable and that its shares should not be priced like a value trap. The Westpac share price is trading at $21.45 on Friday afternoon.
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why is Meta’s earnings miss bad news for the Appen (ASX:APX) share price?
- Hunting for ASX shares? Experts say to avoid this sector in 2022
- Is the Westpac (ASX:WBC) share price good value after its first quarter update?
- 5 things to watch on the ASX 200 on Friday
- What can the Westpac results tell us about the outlook for ASX 200 bank shares?
Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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