Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.
Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:
CAR Group Limited (ASX: CAR)
According to a note out of Morgans, its analysts have upgraded this auto listings company’s shares to a buy rating with a $35.20 price target. Morgans was pleased with the company’s half-year result and described it as strong overall. It was particularly pleased with the double-digit growth it achieved in key offshore markets and the robust growth it reported locally. The broker highlights that CAR Group shares are trading on ~22x estimated FY 2027 earnings, which it views as an attractive entry point given its double-digit EPS growth profile. The CAR Group share price is trading at $26.83 this afternoon.
Electro Optic Systems Holdings Ltd (ASX: EOS)
A note out of Ord Minnett reveals that its analysts have retained their speculative buy rating and $12.72 price target on this defence technology company’s shares. This follows the release of a response to a scathing short seller attack from Grizzly Reports. The broker was pleased with management’s response and appreciates the improved clarity on existing contracts. Overall, it remains positive on the investment opportunity here, highlighting that EOS stands to benefit from geopolitical tensions and rising defence spending, as well as a substantial unconditional order book. The EOS share price is fetching $6.69 at the time of writing.
WiseTech Global Ltd (ASX: WTC)
Analysts at Bell Potter have retained their buy rating on this logistics solutions technology company’s shares with a reduced price target of $87.50. According to the note, the broker highlights that WiseTech’s shares have fallen so hard they are now trading on their lowest forward EV/EBITDA multiple in almost a decade on the ASX boards. The broker feels that this selloff has created a key buying opportunity for investors and sees significant value in its shares at current levels. The WiseTech share price is trading at $49.86 on Wednesday afternoon.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended CAR Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.