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 broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX 200 shares are in the buy zone:
Altium Limited (ASX: ALU)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $40.00 price target on this electronic design software company’s shares. Morgan Stanley notes that Altium expects to fall short of the market’s revenue expectations (US$192 million) in FY 2020 because of the pandemic’s impact on sales this month. While this is disappointing, the broker believes that investors should be focusing on its very positive long term outlook. I agree with Morgan Stanley and feel it is well worth sticking with Altium.
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
Analysts at Morgans have retained their add rating and lifted the price target on this banking giant’s shares to $21.00. According to the note, the broker believes the bad debt damage being factored into its share price is overdone. It doesn’t expect the bad debt experience from the current crisis to be as bad as the global financial crisis because of central bank and Federal Government action. I agree with Morgans and think ANZ is a good option for investors right now.
Woolworths Group Ltd (ASX: WOW)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this conglomerate’s shares to $40.50. The broker made the move after Woolworths released a trading update which revealed strong sales growth for its Food, Liquor, and Big W businesses. And while its Hotels business continues to weigh on its performance, the broker is optimistic this headwind will start to ease now that venues are reopening. I think Macquarie makes some great points and Woolworths could be a blue chip to buy.
And here are more top shares which analysts have just given buy ratings to…
We hear it over and over from investors, “I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I’d be sitting on a gold mine!” And it’s true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
More reading
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- How to get rich by investing in ASX shares
- ASX 200 down 0.2%: Afterpay hits record high, TPG Telecom merger vote
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 Altium. The Motley Fool Australia owns shares of Woolworths Limited. 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 Top brokers name 3 ASX 200 shares to buy today appeared first on Motley Fool Australia.
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