Top brokers name 3 ASX shares to buy today

Red buy button on an apple keyboard with a finger on it.

Red buy button on an apple keyboard with a finger on it.

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 Group Ltd (ASX: ANZ)

According to a note out of Citi, its analysts have retained their buy rating and $30.75 price target on this banking giant’s shares. This follows the release of ANZ’s half-year result earlier this week. Although the broker was disappointed to see the bank rethink its FY 2024 $8 billion cost base target and is now forecasting a $9.3 billion cost base, it remains positive. This is because Citi still expects >10% earnings per share and dividends per share growth in FY 2023 and FY 2024 as the cash rate rises. The ANZ share price is trading at $26.91 on Thursday.

Cochlear Limited (ASX: COH)

A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this hearing solutions company’s shares to $244.50. This follows news that Cochlear has agreed to acquire Oticon Medical for A$170 million. Morgans believes the acquisition is a good one and will fortify the company’s position in the bone-anchored hearing aid segment. The Cochlear share price is fetching $229.08 today.

Liontown Resources Limited (ASX: LTR)

Analysts at Macquarie have retained their outperform rating and $2.50 price target on this lithium developer’s shares. This follows the company’s appearance at the broker’s investor conference this week. Macquarie is positive on Liontown, highlighting that it has offtake agreements with Tesla and LG Energy Solutions, is fully funded for stage one production, and will ultimately be targeting production of 500,000 tonnes per annum in FY 2026. The Liontown share price is trading at $1.46 this 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

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 positions in and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/By42L8G

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s