Given how 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 that leading brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
Fletcher Building Limited (ASX: FBU)
According to a note out of Goldman Sachs, its analysts have initiated coverage on this building products companyâs shares with a buy rating and $5.90 price target. Goldman notes that Fletcher Buildingâs shares are trading on a forward PE ratio of 8.5x and at a 41% discount to the S&P/ASX 200 index. It points out that this is notably lower than average multiples and broadly in line with GFC levels. And while the broker accepts that its key markets are near cyclical highs, it feels this is more than priced in. The Fletcher Building share price is trading at $4.67 today.
IDP Education Ltd (ASX: IEL)
A note out of UBS reveals that its analysts have retained their buy rating on this language testing and student placement companyâs shares with a slightly trimmed price target of $35.25. The broker has been looking at visa data and believes that growth in key markets points to positive trading conditions for IDP Education. Overall, it is positive on the company’s outlook and sees plenty of value in its shares at the current level. The IDP share price is fetching $29.57 on Monday.
Monash IVF Group Ltd (ASX: MVF)
Analysts at Macquarie have retained their outperform rating and $1.30 price target on this fertility treatment company’s shares. Although IVF treatments fell slightly in October according to Medicare data, the broker notes that this followed a big increase in September. In addition, Macquarie believes Monash IVF is well-placed to grow quicker than the market and grow its share. This bodes well for its earnings growth in FY 2023 and beyond. The Monash IVF share price is trading at $1.00 this afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Monday
- Are these the ASX growth shares to buy for 2023?
- 11 ASX shares that make Abrdn’s World Cup team
- Leading brokers name 3 ASX shares to buy today
- Experts name 3 of the best ASX growth shares to buy in November
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 Idp Education Pty 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.
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