Leading brokers name 3 ASX shares to buy today

ASX shares Business man marking buy on board and underlining it

ASX shares Business man marking buy on board and underlining it

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:

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 seller’s shares to $17.50. Although Jumbo fell short of Morgans’ 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 giant’s shares to $120.00. Although Citi wasn’t overly impressed with Rio Tinto’s 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 company’s shares to $50.50. The broker believes that the company’s 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 company’s 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.

Our #1 Strategy for today’s inflation drenched markets

The ABC recently reported that inflation in the UK has hit an eye watering 40 year high.
Meanwhile the Reserve Bank believes that by the end of the year inflation in Australia will climb to levels not seen since 1990.
As prices surge we’ve uncovered 3 “inflation fighting” stocks we think could hand investors outsized returns as the market recalibrates.
And as Scott Phillips put it
“There’s one thing to avoid at all costs when inflation hits.
And that’s doing nothing.”
We reveal details on these three “inflation fighting” stocks here.

Learn More
*Returns as of July 1 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

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.

from The Motley Fool Australia https://ift.tt/G8kl3tf

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