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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Macquarie, its analysts have retained their outperform rating and $29.50 price target on this banking giant’s shares. The broker has been looking at the sector and believes that ANZ is one of the best-placed banks to experience margin benefits this year. In light of this, it holds firm with its positive view on the company’s shares. The ANZ share price is trading at $25.82 on Friday.
Baby Bunting Group Ltd (ASX: BBN)
A note out of Morgans reveals that its analysts have retained their add rating and $6.00 price target on this baby product retailer’s shares. Morgans has been looking at the retail sector and named Baby Bunting as one of its top three picks. It was impressed with Baby Bunting’s performance during the first half and appears confident on the future. Morgans highlights that it likes the retailer due to its preference for shares that are able to deliver growth independent of the likely waning of consumer sentiment and spending. The Baby Bunting share price is fetching $4.61 today.
Megaport Ltd (ASX: MP1)
Analysts at Citi have retained their buy rating and $20.20 price target on this network-as-a-service company’s shares. According to the note, the broker isn’t concerned by news that data centre operator Digital Realty is launching its own networking platform. Citi highlights the new platform is expected to be open, which implies Megaport could still be a service provider. Furthermore, it believes Megaport’s global network and cloud on-ramps outside of Digital Realty’s physical locations are still valuable to a customer. As a result, it only sees a low probability of existing customers churning. The Megaport share price is trading at $13.18 on Friday.
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Morgans picks its top 3 ASX retail shares to buy today
- Is the Westpac (ASX:WBC) share price the cheapest bank to buy right now?
- ANZ has the largest ASX big four bank dividend yield right now. What?
- 2 quality ASX dividend shares this broker rates as buys
- WAM boss urges cashed-up ASX 200 companies to buy, invest or pay dividends
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 MEGAPORT FPO. The Motley Fool Australia has recommended Baby Bunting and MEGAPORT 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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