It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
IDP Education Ltd (ASX: IEL)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this language testing and student placement company’s shares to $35.00. This follows the release of a better than expected first half update. Looking ahead, Macquarie expects IDP to benefit from the reopening of borders and its growing footprint in the key India market. The IDP share price is trading at $28.78 this afternoon.
Megaport Ltd (ASX: MP1)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this network as a service provider’s shares to $20.20. Citi was pleased with Megaport’s half year results. It also highlights that with Megaport’s investments now behind it, growth and margins look set to pick up. In addition, Citi sees potential upside to its medium-term forecasts from higher than expected take-up of MVE as the partner channel kicks in. The Megaport share price is fetching $13.80 today.
Mirvac Group (ASX: MGR)
Another note out of Citi reveals that its analysts have upgraded this property company’s shares to a buy rating with an improved price target of $3.13. Citi notes that Mirvac delivered a half year result in line with its expectations. And while it suspects the market may be disappointed that the company didn’t upgrade its guidance, it sees plenty of value in its shares to upgrade them to a buy rating. The Mirvac share price is trading at $2.50 on Friday afternoon.
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
Wondering where you should 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 over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
More reading
- Top brokers say there are still ASX 200 growth shares with massive upside in 2022
- Why are these ASX 200 tech shares tumbling more than 6% on Friday?
- Here are 3 highly-rated ASX growth shares
- Here are the top 10 ASX shares today
- Why AMP, AVZ, Megaport, and NAB shares are pushing higher
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. owns and has recommended Idp Education Pty Ltd and MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/z03m9YC
Leave a Reply