Brokers name 3 ASX shares to buy today

A white and black clock with the words Time to Buy in blue lettering representing the views of two experts who say it's time to buy these ASX shares

A white and black clock with the words Time to Buy in blue lettering representing the views of two experts who say it's time to buy these ASX shares

It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Elders Ltd (ASX: ELD) 

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and $21.00 price target on the agribusiness company’s shares. Goldman believes that recent weakness in the Elders share price has created a buying opportunity for investors. Particularly given the long term structural growth opportunities still in front of the company. The Elders share price is trading at $12.01 on Friday.

Qantas Airways Limited (ASX: QAN)

A note out of UBS reveals that its analysts have retained their buy rating and $6.55 price target on this airline operator’s shares. UBS notes that recession fears have been weighing heavily on the Qantas share price. However, the broker believes that if the economy avoids a recession and has a soft landing instead, then compelling value will be found in its shares. The Qantas share price is fetching $4.63 today.

ResMed Inc (ASX: RMD)

Analysts at Macquarie have retained their outperform rating and lifted their price target on this sleep treatment company’s shares to $38.70. According to the note, the broker suspects that consensus estimates could be too low in the coming years if industry device volume growth improves as it expects. In addition, Macquarie sees an opportunity for ResMed to continue to increase its market share following the Philips recall. The ResMed share price is trading at $34.45 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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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 ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. The Motley Fool Australia has recommended Elders 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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