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:

DroneShield Ltd (ASX: DRO)

According to a note out of Bell Potter, its analysts have upgraded this counter drone technology company’s shares to a buy rating and 90 cents price target. The broker made the move on valuation grounds after a sharp pullback in recent sessions dragged its shares down to an attractive level. The Droneshield share price is trading at 62 cents on Friday.

Megaport Ltd (ASX: MP1)

A note out of Citi reveals that its analysts have retained their buy rating and $16.80 price target on this network services provider’s shares. As well as being very impressed with its first half performance, the broker believes recently announced actions will be supportive of growth in the Australian market. Particularly given that there are signs of increasing demand for global WAN solutions locally. The Megaport share price is fetching $15.17 this afternoon.

Viva Energy Group Ltd (ASX: VEA)

Analysts at Macquarie have retained their outperform rating on this fuel retailer’s shares with an improved price target of $4.70. The broker has made some site visits recently and came away feeling very positive on its proposed acquisitions. And thanks to higher fuel margin assumptions, the broker has boosted its future earnings estimates and lifted its valuation accordingly. The Viva Energy share price is trading at $3.50 on Friday.

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

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• DroneShield share price down 36% in 6 days. Should you buy the dip?
• Why DroneShield, Magellan, Platinum, and Zip shares are rising today
• Why DroneShield, Healius, Newmont, and Paragon Care shares are pushing higher
• Why this leading broker just upgraded DroneShield shares

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 DroneShield, Macquarie Group, and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/XM2Gb7t