With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this baby products retailer’s shares to $6.22. Citi believes Baby Bunting is well placed to outperform the broader small cap retail sector this year given the non-discretionary nature of its category. All in all, the broker believes the company can grow its earnings per share by a compound annual growth rate of 17% between FY 2021 and FY 2024. This is expected to be driven by its store rollout, margin expansion, and penetrating existing categories with low presence. The Baby Bunting share price is trading at $5.18 this afternoon.
REA Group Limited (ASX: REA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating but trimmed their price target on this property listings company’s shares to $178.00. It believes that fears that interest-rate rises could hit the volume of Australian property listings are overdone. And with the REA share price down materially since the start of the year, the broker believes this could be a buying opportunity for investors. Looking ahead, Morgan Stanley suggests that the company may need to invest to fuel its future growth. This could include increasing its stake in Move. The REA share price is fetching $135.33 on Monday afternoon.
Santos Ltd (ASX: STO)
Analysts at Ord Minnett have retained their buy rating and trimmed their price target on this energy producer’s shares to $9.15. This follows a few minor adjustments to its valuation after reviewing Santos’ reserves. Outside this, the broker is positive on Santos due to its belief that it has opportunities to offload assets to strengthen its balance sheet and unlock value. The Santos share price is trading at $7.70 on Monday.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Here’s why the Baby Bunting (ASX:BBN) share price has dived 5% in 2 days
- 5 things to watch on the ASX 200 on Monday
- 2 of the ‘best’ ASX shares to buy right now
- The REA (ASX:REA) share price has tumbled 21% this year. Is it a bargain?
- 5 things to watch on the ASX 200 on Friday
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 Baby Bunting and REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/nsF5Xec
Leave a Reply