Brokers name 3 ASX shares to buy now

It has been another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Bell Potter, its analysts have retained their buy rating on this corporate travel specialist’s shares with a reduced price target of $18.30. While the company’s half-year result fell short of expectations, the broker believes that macro issues are to blame rather than anything company specific. And although this has led to earnings estimate revisions, Bell Potter sees plenty of value in its shares at current levels and retains its buy rating. The Corporate Travel Management share price is trading at $16.29 today.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Morgans reveals that its analysts have retained their add rating on this lithium miner’s shares with a lowered price target of $4.50. Although Pilbara Minerals’ half-year profits missed expectations, the broker remains positive on the investment opportunity here. Especially given how it believes the company is well-positioned to benefit greatly when lithium prices rebound. The Pilbara Minerals share price is fetching $3.66 this afternoon.

Qantas Airways Limited (ASX: QAN)

Analysts at Goldman Sachs have retained their buy rating on this airline operator’s shares with a trimmed price target of $8.05. The broker believes that Qantas’ half-year results provides a further proof point on its reset earnings capacity. It highlights that the company’s earnings per share is 52% higher than pre-COVID times. But despite this, its market capitalisation is 17% below pre-COVID levels. The Qantas shares price is trading at $5.26 on Friday.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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More reading

• Here’s why Pilbara Minerals shares could crash 21%
• Why Qantas shares could rise over 50%
• 5 things to watch on the ASX 200 on Friday
• Morgans names 3 ASX stocks to buy following results
• Pilbara Minerals shares lower on disappointing half-year earnings miss

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 Corporate Travel Management and Goldman Sachs Group. The Motley Fool Australia has recommended Corporate Travel Management. 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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