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 ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Atlas Arteria Group (ASX: ALX)
According to a note out of Goldman Sachs, its analysts have put a buy rating and $7.29 price target on this toll road operator’s shares. While the broker notes that traffic volumes remain weak on its roads, it expects a big improvement in the coming months. This is due to infection rates naturally slowing post winter and the inoculation program making process. Goldman appears optimistic that its shares will rerate higher as traffic volumes and distributions recover. The Atlas Arteria share price is trading at $6.04 this afternoon.
Nitro Software Ltd (ASX: NTO)
Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this document productivity software company’s shares to $3.70. According to the note, the broker believes the company’s guidance for the second half is conservative and appears confident it will outperform it. Particularly given that management has a number of growth levers to pull. The Nitro Software share price is fetching $2.59 on Monday.
Qantas Airways Limited (ASX: QAN)
A note out of Macquarie reveals that its analysts have upgraded this airline operator’s shares to an outperform rating with a $6.35 price target. According to the note, the broker believes that domestic capacity will come roaring back in the near term, bringing it close to pre-pandemic levels. In addition to this, it remains optimistic that international travel won’t be too far away given the rollout of vaccines in its key destinations. Overall, the broker believes the company is coming out of the crisis in a stronger position. The Qantas share price is trading at $5.45 this afternoon.
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More reading
- Why brokers think the Qantas (ASX:QAN) share price could fly 17% higher
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- Qantas (ASX:QAN) successfully trials COVID vaccine app in preparation of return to international travel
- Brokers name 3 ASX shares to buy right now
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nitro Software Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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