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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and $21.25 price target on this infant formula company’s shares. The broker notes that a2 Milk Company is looking to acquire a 75% stake in Mataura Valley Milk. It sees value in its plans and believes it could strengthen its relationship with China. I think Macquarie is spot on and would be a buyer of a2 Milk Company’s shares for the long term.
BWX Ltd (ASX: BWX)
Analysts at Citi have retained their buy rating and lifted the price target on this personal care products company’s shares to $5.05. According to the note, the broker was pleased with BWX’s performance in FY 2020 and its guidance for the year ahead. It also appear happy with the company’s growth plans in the European market and its opportunities in the Australian grocery channel. While I think its shares are looking fully valued now, they could be decent long term options.
Redbubble Ltd (ASX: RBL)
A note out of Morgans reveals that its analysts have upgraded this ecommerce company’s shares to an add rating with a massive target price increase from 54 cents to $4.33. The broker made the move after Redbubble reported explosive growth during the pandemic. It believes the company is in the right place at the right time and appears optimistic that its growth will continue in FY 2021 thanks to the accelerating shift to online shopping. I’m sitting on the fence with Redbubble. I’m not as convinced that its strong growth will continue into 2021.
These 3 stocks could be the next big movers in 2020
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More reading
- Could these 2 ASX growth shares that crashed last week be a buy?
- Four companies that got crushed (and why you had to own them)
- 3 ASX 200 growth shares to buy right now
- 3 ASX share reports I loved this week
- Is the A2 Milk share price still a good buy after strong full year results?
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited. The Motley Fool Australia owns shares of A2 Milk. 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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