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 that leading brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
Allkem Ltd (ASX: AKE)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this lithium minerâs shares with a slightly trimmed price target of $15.40. Goldman was pleased with Allkemâs first-half result, noting that its EBITDA came in slightly ahead of expectations. Looking ahead, Allkem is Goldmanâs preferred lithium exposure due to its optionality across the Americas and Australia on the largest lithium resource under its coverage and its discount to peers at 0.85x NAV (versus peer average ~1.1x). The Allkem share price is trading at $11.25 today.
Jumbo Interactive Ltd (ASX: JIN)
A note out of Morgans reveals that its analysts have retained their add rating on this online lottery ticket sellerâs shares with a lowered price target of $16.50. Although Jumboâs half-year earnings were a touch short of expectations, the broker remains positive on the future due to the shift online. It also sees plenty of value in its shares at the current level. The Jumbo share price is fetching $13.90 this afternoon.
Mineral Resources Ltd (ASX: MIN)
Another note out of Morgans reveals that its analysts have retained their add rating on this mining and mining services companyâs shares with an improved price target of $102.00. While Mineral Resourcesâ half-year result was short of consensus estimates, it was largely in line with what the broker was forecasting. Outside this, Morgans has upgraded its valuation of Mineral Resourcesâ lithium operations. This has more than offset a downgrade to the valuation of its iron ore operations. The Mineral Resources share price is trading at $79.99 on Monday.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why are ASX 200 mining shares ending the week in the red?
- Jumbo share price slips despite revenue growing 18%
- Which ASX 200 lithium share takes the crown for dividend yield right now?
- Silver lining: Mineral Resources shares to pay interim dividend
- Allkem share price in the green as ASX 200 lithium stock posts record revenue
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 Objective. 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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