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. Hereâs why they are bullish on them:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this lottery ticket sellerâs shares to $17.50. Although Jumbo fell short of Morgansâ earnings estimates in FY 2022, it believes post-announcement share price weakness has created an attractive entry point for investors. Particularly given the company’s positive long term outlook thanks to the shift online and its large opportunity as a software-as-a-service provider. The Jumbo share price is trading at $13.03 today.
Rio Tinto Limited (ASX: RIO)
A note out of Citi reveals that its analysts have retained their buy rating but cut their price target on this mining giantâs shares to $120.00. Although Citi wasnât overly impressed with Rio Tintoâs second quarter performance, it sees plenty of value and double-digit dividend yields on offer with its shares. In light of this, the broker holds firm with its positive rating. The Rio Tinto share price is trading at $95.11 on Monday afternoon.
WiseTech Global Ltd (ASX: WTC)
Analysts at Ord Minnett have retained their buy rating but trimmed their price target on this logistic solutions companyâs shares to $50.50. The broker believes that the companyâs upgraded earnings guidance highlights its successful focus on costs amid slowing container volumes. And while it acknowledges that moderating global container volumes could be a headwind, Ord Minnett sees further cost saving opportunities with the companyâs legacy platforms. The WiseTech share price is trading at $46.95 today.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Here’s what brokers are saying about the Rio Tinto share price
- 5 things to watch on the ASX 200 on Monday
- Here are the top 10 ASX shares today
- Why Ardent Leisure, Michael Hill, National Storage, and WiseTech shares are rising
- 3 ASX All Ords shares tumbling into the weekend
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 Harvey Norman Holdings Ltd. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. 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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