Many of Australia’s top brokers have been busy adjusting their financial models and recommendations again. This has led to a number of broker notes being released 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:
Eagers Automotive Ltd (ASX: APE)
According to a note out of Bell Potter, its analysts have upgraded this automotive retailer’s shares to a buy rating with a trimmed price target of $28.50. The broker made the move on valuation grounds following a period of share price weakness. Bell Potter continues to believe that the company can achieve its guidance in FY 2026 despite a softer start to the year. It notes that the softer start to the year has been driven by Toyota supply chain issues, which are expected to be resolved in the near term. In light of this, at 20x earnings, Bell Potter thinks that the company’s shares are attractively priced at present. The Eagers Automotive share price is trading at $21.14 on Wednesday.
Qantas Airways Ltd (ASX: QAN)
A note out of Citi reveals that its analysts have retained their buy rating and $12.10 price target on this airline operator’s shares. The broker highlights that Qantas’ shares have fallen heavily since the start of the war in the Middle East. It believes this implies that the disruption will last far longer than the broker’s base case assumption. And while it concedes that there will be some impact to earnings from the conflict, Citi doesn’t believe it will be as bad as the market is making it out to be. As a result, the broker thinks investors should be buying the dip. The Qantas share price is fetching $8.72 at the time of writing.
Zip Co Ltd (ASX: ZIP)
Analysts at Macquarie have retained their buy rating and $3.35 price target on this buy now pay later provider’s shares. According to the note, the broker has been looking at Zip’s business model and remains confident. It thinks investors should look past its moderating operating leverage and focus on its medium-term growth outlook. Macquarie is expecting Zip’s U.S. net transaction margin to improve sequentially in both the March quarter and June quarter. And while loan losses are rising relative to total transaction value, Macquarie points out that this is because Zip is bringing on new users. The company can quickly remove defaulters, boosting its loan loss metrics. The Zip share price is trading at $1.72 this afternoon.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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Citigroup is an advertising partner of Motley Fool Money. 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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Eagers Automotive Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.