Top brokers name 3 ASX shares to buy today

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Altium Limited (ASX: ALU)

According to a note out of Citi, its analysts have upgraded this electronic design company’s shares to a buy rating with an improved price target of $56.60. The broker is feeling very positive about the company’s outlook thanks to the Altium365 cloud platform. It believes the platform can increase Altium’s addressable market materially outside its existing user base. In addition, the broker sees artificial intelligence tailwinds that could boost revenue. The Altium share price is trading at $49.66 today.

Jumbo Interactive Ltd (ASX: JIN)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $19.20 price target on this digital lottery ticket seller’s shares. The broker believes that Jumbo will benefit greatly from recent Powerball jackpots. In addition, Morgan Stanley is tipping Jumbo as a company that could surprise to the upside during earnings season. The Jumbo share price is fetching $15.71 on Thursday.

Woolworths Group Ltd (ASX: WOW)

Analysts at Goldman Sachs have retained their conviction buy rating on this supermarket giant’s shares with a trimmed price target of $42.30. While the broker was disappointed with the company’s performance in New Zealand, it was pleased with a stronger than expected first half from its key Australian Food business. And with its shares still trading on earnings multiples lower than their five-year average, the broker sees it as a great time to buy. The Woolworths share price is trading at $36.01 this morning.

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

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More reading

• Beginner investors: 5 top Aussie stocks I’d buy for 2024
• How big could the 12-month return be on Woolworths shares?
• 5 things to watch on the ASX 200 on Tuesday
• Woolworths share price falls on $1.5b impairment news
• The pros and cons of buying Woolworths shares right now

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Altium. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Goldman Sachs Group, and Jumbo Interactive. The Motley Fool Australia has recommended Jumbo Interactive. 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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