It has been another busy week for Australiaâs 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. Hereâs why brokers think these ASX shares are in the buy zone:
Carsales.Com Ltd (ASX: CAR)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this auto listings companyâs shares to $25.10. This follows news that the company is increasing its stake in Brazil’s WebMotors to 70%. Macquarie appears pleased with the plan given how large the Brazilian market is. The Carsales share price last traded at $22.64.
Treasury Wine Estates Ltd (ASX: TWE)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $14.70 price target on this wine giantâs shares. This follows the companyâs FY 2023 strategy day in the Napa valley this week. Goldman believes that Treasury Wine is highly energised to generate growth in an otherwise challenged industry. It highlights that the company has its eyes on younger consumers, noting that the earlier they are recruited, the more loyal they become. The Treasury Wine share price is fetching $13.00 today.
Xero Limited (ASX: XRO)
Analysts at Citi have retained their buy rating and lifted their price target on this cloud accounting platform providerâs shares to $105.70. This follows news that Xero is undertaking a major cost cutting program that will reduce its workforce by upwards of 16%. Citi appears pleased with the news and is expecting this to underpin very strong earnings growth over the coming years. The Xero share price is trading at $86.26 this afternoon.
The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
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More reading
- Is the new leaner, meaner Xero stock a buy right now?
- 5 things to watch on the ASX 200 on Friday
- Why Arafura, Myer, Volpara, and Xero shares are zooming higher
- Morgans names 3 more of the best ASX shares to buy in March
- Why is the Xero share price racing 11% higher today?
Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Carsales.com and Treasury Wine Estates. 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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