Australia’s top brokers have been busy adjusting their estimates and recommendations once again. This has led to the release of a number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Newcrest Mining Ltd (ASX: NCM)
According to a note out of Morgans, its analysts have retained their add rating and $30.95 price target on this gold miner’s shares. The broker has been looking through the gold sector and likes what it sees with Newcrest. This is due to its reasonable valuation and its exposure to copper and silver. It expects the latter to help offset softer gold prices. The Newcrest share price is trading at $27.93 on Friday morning.
Qantas Airways Limited (ASX: QAN)
Analysts at Ord Minnett have retained their buy rating but trimmed their price target on this airline operator’s shares to $5.50. This follows news that the airline is pushing back the restart of its international service by two months. While the delay is slightly disappointing, Ord Minnett remains positive on the company given that its Domestic and Loyalty businesses are the main contributors of its earnings. The Qantas share price is fetching $4.45 at the time of writing.
Xero Limited (ASX: XRO)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $140.00 price target on this cloud accounting platform provider’s shares. This follows the release of the company’s full year results this week. While the broker acknowledges that Xero fell well short of expectations for its earnings, it remains positive on the future. Morgan Stanley believes the company’s investment strategy is the correct one to create long term value for shareholders. The Xero share price is trading at $111.51 this morning.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- Top broker gives its verdict on the Xero (ASX:XRO) share price
- 5 things to watch on the ASX 200 on Friday
- ASX 200 sinks alongside largest US inflation rise in 12 years
- ASX 200 falls below 7,000, Xero sinks, Afterpay falls
- 3 reasons why the Xero (ASX:XRO) share price selloff could be an opportunity
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/3uOnxal
Leave a Reply