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:
Allkem Ltd (ASX: AKE)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lithium miner’s shares to $15.24. This follows the release of a pricing update last week which revealed expectations for materially higher lithium prices during the current quarter. Outside this, the broker is a fan of Allkem due to the diversification of its operations (geographically and production type). The Allkem share price is trading at $13.40 on Monday afternoon.
Domain Holdings Australia Ltd (ASX: DHG)
A note out of Citi reveals that its analysts have retained their buy rating and $6.15 price target on this property listings company’s shares. This follows news that Domain is acquiring campaign management platform company Realbase for $180 million. While the broker has concerns over the premium that Domain is paying and would have preferred it to be a scrip offer rather than cash, it acknowledges that the deal is in line with its marketplace strategy and expects it to boost its Agent Solutions business. The Domain share price is fetching $3.98 today.
Ramsay Health Care Limited (ASX: RHC)
Another note out of Citi reveals that its analysts have retained their buy rating but trimmed their price target slightly on this private hospital operator’s shares to $74.00. Citi suspects that Ramsay’s recent acquisitions have been holding its shares back given the high costs it has been paying. Nevertheless, with Ramsay’s earnings on the brink of normalising again after the pandemic, Citi sees enough value in them to maintain its buy rating. The Ramsay share price is trading at $64.67 on Monday.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why Allkem, Iluka, Pendal, and Sayona Mining shares are charging higher
- ASX lithium shares set to deliver next positive surprise to investors
- Why Air NZ, Bank of Queensland, Domain, and Perpetual shares are dropping
- ASX 200 (ASX:XJO): Perpetual makes Pendal offer, Iluka hits record high
- 5 things to watch on the ASX 200 on Monday
Motley Fool contributor James Mickleboro owns Allkem Limited. 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 Ramsay Health Care 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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