With so many shares to choose from on the ASX, it can be hard to decide which ones to buy.
The good news is that brokers across the country are doing a lot of the hard work for you.
Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and $30.10 price target on this gaming technology company’s shares. Although the broker expects Aristocrat’s land-based business to remain under pressure in the near term, it is optimistic that the worst is now behind it. And while it expects FY 2020 to be a tough year for the company, it is forecasting a recovery in its earnings from next year. I agree with Citi on Aristocrat Leisure and would be a buyer of its shares with a long term view.
Alliance Aviation Services Ltd (ASX: AQZ)
Analysts at Morgans have initiated coverage on this airline operator with an add rating and $3.54 price target. According to the note, the broker believes Alliance is one of the few operators to have escaped the pandemic unscathed. This is due to its position as a leading provider of contract services to mining, energy, and government sectors. And although its shares are closing in on a record high, the broker still sees value in them at the current level. I think Morgans makes some great points and Alliance could be worth a closer look.
QBE Insurance Group Ltd (ASX: QBE)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and an $11.52 price target on this insurance giant’s shares. According to the note, the broker believes that underlying trends are tracking well and it is taking solid momentum into FY 2021. Goldman notes that pricing has continued to harden through the June quarter, where QBE revealed a second quarter group renewal rate increase of ~10.1%. This is up on the 7.3% achieved in the first quarter. While it isn’t a company that I’m a big fan of, it could be worth considering.
5 stocks under $5
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
- These were the ASX 200’s biggest share gainers last week
- ASX 200 Weekly Wrap: ASX has week of high volatility
- 5 things to watch on the ASX 200 on Monday
- Top broker picks the cheapest ASX stocks to buy today
- Where to invest $100,000 into ASX shares
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Leading brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia.
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