Leading brokers name 3 ASX shares to buy today

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:

Allkem Ltd (ASX: AKE)

According to a note out of UBS, its analysts have retained their buy rating on this lithium miner’s shares with an improved price target of $18.60. UBS notes that Allkem’s results fell short of expectations and the company’s production guidance for Mt Cattlin was downgraded just weeks after giving it. However, the broker is overlooking this due to the belief that lithium prices will be higher for longer. The Allkem share price is trading at $13.80 on Monday.

Costa Group Holdings Ltd (ASX: CGC)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this horticulture company’s shares to $3.35. This follows the release of a half year result that was in line with expectations. And while wet weather has forced a reduction in Morgans’ earnings estimates and valuation, it still believes that its shares are significantly undervalued at current levels. The Costa share price is fetching $2.68 this afternoon.

Ramsay Health Care Limited (ASX: RHC)

Analysts at Citi have upgraded this private hospital operator’s shares to a buy rating with an $85.00 price target. While the broker has reduced its earnings estimates to reflect a slower than expected recovery from the pandemic, it remains positive that one is coming. But perhaps the main catalyst for the upgrade is Citi’s belief that there’s a reasonable chance that private equity firm KKR will come back with another takeover offer in the near future. The Ramsay share price is trading at $70.13 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

• Are Pilbara Minerals shares better value than Allkem right now?
• Morgans still sees ‘value upside’ in Allkem share price despite recent rally
• Top brokers name 3 ASX shares to buy next week
• ASX 200 reporting season weekly wrap: Top risers and fallers
• Ramsay share price plunges 4% after suitor withdraws takeover offer

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