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:

ARB Corporation Ltd (ASX: ARB)

According to a note out of Citi, its analysts have retained their buy rating on this automotive parts company’s shares with an improved price target of $44.90. This follows the release of a strong half-year result from ARB earlier this week. Citi also sees upside risk to its estimates from the company’s partnership with auto giant Ford. The ARB share price is trading at $38.91 on Wednesday.

BHP Group Ltd (ASX: BHP)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $49.40 price target on this mining giant’s shares. Goldman was pleased with BHP’s half-year result, noting that it was broadly in-line with expectations. Outside this, the broker remains positive on the future and sees the miner’s valuation as attractive at current levels. The BHP share price is fetching $44.20 this afternoon.

Megaport Ltd (ASX: MP1)

Analysts at Macquarie have retained their outperform rating on this network solutions company’s shares with an improved price target of $15.90. This follows the release of Megaport’s half-year results this week. Although the result was largely pre-released, Macquarie was pleased with the finer details and has boosted its earnings estimates to reflect an acceleration in momentum. The Megaport share price is trading at $13.20 today.

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

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More reading

• Should you buy BHP shares following the miner’s half-year results?
• 5 things to watch on the ASX 200 on Wednesday
• Here are the top 10 ASX 200 shares today
• Why ARB, Bravura, Hub24, and Suncorp shares are storming higher
• Here’s everything you need to know about the latest BHP dividend

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 ARB Corporation, Goldman Sachs Group, Macquarie Group, and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended ARB Corporation and Megaport. 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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