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:
Goodman Group (ASX: GMG)
According to a note out of Citi, its analysts have retained their buy rating and $29.50 price target on this industrial property company’s shares. Citi was pleased with Goodman’s third quarter update and believes that recent weakness has created a good entry point for investors. And even though management has upgraded its earnings per share growth guidance again, the broker feels it could still be conservative. The Goodman share price is trading at $19.08 this afternoon.
Mineral Resources Limited (ASX: MIN)
A note out of Credit Suisse reveals that its analysts have initiated coverage on this mining and mining services company’s shares with an outperform rating and $73.00 price target. Credit Suisse believes that the company’s shares are very attractively priced. Particularly given its lithium exposure and pipeline of projects which are expected to support its growth in the coming years. The Mineral Resources share price is fetching $60.14 today.
South32 Ltd (ASX: S32)
Analysts at Macquarie have retained their outperform rating and $6.90 price target on this mining giant’s shares. This follows the release of a strategy and business update earlier this week. Macquarie is confident in South32’s near term outlook following the update, noting that the company is aiming to grow its production by 20% over the next couple of years. Overall, the broker believes this bodes well for earnings and ultimately share buybacks. The South32 share price is trading at $4.71 on Wednesday.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Macquarie reveals 2 sectors where bargain ASX shares still exist
- 2 ASX shares I have supreme confidence in: fund manager
- Lighting up the market: ASX lithium stocks surge again on Tuesday
- Broker names 3 reasons the South32 share price could be cheap
- ASX 200 midday update: Brambles takeover talks end, resources shares charge higher
Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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