Brokers name 3 ASX shares to buy today

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:

Allkem Ltd (ASX: AKE)

According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this lithium miner’s shares to $15.55. UBS has become less positive on base metals and more positive on lithium. The broker expects lithium prices to remain strong and underpin strong free cashflow for Allkem. The Allkem share price is trading at $10.55 on Friday afternoon.

Baby Bunting Group Ltd (ASX: BBN)

A note out of Citi reveals that its analysts have retained their buy rating and $6.22 price target on this baby products retailer’s shares. Baby Bunting remains Citi’s top pick in the small cap retail space. Particularly given how the company is making early progress with its expansion into less penetrated categories such as toys and babywear. Combined with its store rollout, supply chain initiatives, and its private label offering, Citi believes Baby Bunting is well-placed for growth. The Baby Bunting share price is fetching $4.40 today.

Corporate Travel Management Ltd (ASX: CTD)

Analysts at Morgans have retained their add rating but cut their price target on this corporate travel specialist’s shares to $25.85. Although the broker acknowledges that the travel sector recovery may take longer than first expected, it sees recent weakness as a buying opportunity. But you may have to act fast. Morgans suspects that reporting season in August could be a catalyst for a rerating. The Corporate Travel Management share price is trading at $19.54 this afternoon.

The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• These 3 ASX 200 lithium stocks are exploding on Friday
• Why did the Allkem share price soar 60% in FY22?
• Here are the top 10 ASX shares today
• Is now the time to be buying beaten down ASX 200 mining shares?
• Can ASX lithium shares recharge in FY23?

Motley Fool contributor James Mickleboro has positions in Allkem 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 Baby Bunting and Corporate Travel Management Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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