Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $28.00 price target on this corporate travel specialist company’s shares. The broker appears to have had a bit of push back from investors in respect to its recommendation previously. However, its analysts are holding firm and believe the future is bright for Corporate Travel Management due to industry consolidation and its forecast for higher margins. The Corporate Travel Management share price is trading at $21.27 on Monday afternoon.
NEXTDC Ltd (ASX: NXT)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $14.40 price target on this data centre operator’s shares. This follows the announcement of a lift in contracted utilisation to 81MW following new contract wins. While this is in line with the broker’s estimates, it believes it should be a boost to investor sentiment and calm any concerns heading into earnings season. The NEXTDC share price is fetching $10.71 today.
ResMed Inc (ASX: RMD)
Analysts at Citi have upgraded this medical device company’s shares to a buy rating with a $38.00 price target. According to the note, Citi made the move on valuation grounds following recent share price weakness. It notes that ResMed’s shares are trading at a discount to historic multiples. In addition, the broker believes ResMed will still deliver strong growth in FY 2022 despite facing supply chain challenges. The ResMed share price is trading at $31.85 on Monday afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- ASX 200 (ASX:XJO) midday update: Ansell crushed, ResMed upgraded
- Why is the NextDC (ASX:NXT) share price climbing today?
- Broker upgrade sends ResMed (ASX:RMD) share price charging higher
- 5 things to watch on the ASX 200 on Monday
- Why AnteoTech, Newcrest, Nitro, and ResMed shares are falling
Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management Limited and ResMed Inc. 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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