Top brokers name 3 ASX shares to buy today

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today

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:

Allkem Ltd (ASX: AKE)

According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this lithium miner’s shares to $16.38. This follows the release of an update out of Allkem which revealed stronger pricing for its lithium carbonate but softer production for its spodumene operations. Overall, while this was a mixed update, the broker remains positive on Allkem, particularly given management’s production growth plans. The Allkem share price is trading at $11.63 today.

CSL Limited (ASX: CSL)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $310.00 price target on this biotherapeutics company’s shares. Morgan Stanley notes that updates from some of CSL’s peers have painted a favourable picture for industry trading conditions. In addition, the broker is pleased with the progress the company is making with its collection centre rollout. The CSL share price is fetching $270.90 on Wednesday.

Playside Studios Ltd (ASX: PLY)

Analysts at Ord Minnett have retained their speculative buy rating and 95 cents price target on this games developer’s shares. This follows news that the company has signed a new work for hire deal with tech giant Meta Platforms (Facebook) with a focus on virtual reality and the metaverse. The broker feels this further demonstrates the quality of the company’s studio. The Playside share price is trading at 70 cents on Wednesday.

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

Motley Fool contributor James Mickleboro has positions in Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. 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

Leave a Reply

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

You are commenting using your 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