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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $30.00 price target on this banking giant’s shares. This follows news that the bank is combining its Digital Division, including ANZx, and its Australian retail business. Morgan Stanley is positive on the news and sees it as a good way to strengthen the all-important digital proposition and help turnaround its retail market share losses. The ANZ share price is currently trading at $25.76.
Block Inc CDI (ASX: SQ2)
A note out of Macquarie reveals that its analysts have initiated coverage on this payments giant’s shares with an outperform rating and $230.00 price target. The broker believes that Block is well-placed to grow its ARPU thanks to management’s plan to leverage its Afterpay and Cash Card offerings. The latter reached 13 million monthly active users at the end of December, representing more than 30% of its 44 million monthly transacting active user base. The Block share price is fetching $173.75 this afternoon.
Zip Co Ltd (ASX: Z1P)
Analysts at Morgans have retained their add rating but slashed their price target on this buy now pay later provider’s shares down to $3.94. According to the note, the broker sees positives in its plan to acquire Sezzle Inc (ASX: SZL). It notes that the deal has the potential to help Zip win more merchants thanks to its larger combined customer base. The Zip share price is trading at $1.95 on Wednesday afternoon.
The post Top 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
- Why did the ANZ (ASX:ANZ) share price lag the other banks in February
- ‘Strategic sense’: What brokers are saying about the Zip (ASX:Z1P)-Sezzle deal
- These 3 ASX 200 shares are topping the volume charts this Tuesday
- Why Dubber, Evolution, Sandfire, and Zip shares are dropping
- Leading brokers name 3 ASX shares to sell today
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. owns and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. 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/4ljmOZv
Leave a Reply