Leading brokers name 3 ASX shares to buy today

With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Accent Group Ltd (ASX: AX1)

According to a note out of Morgans, its analysts have upgraded this footwear retailer’s shares to an add rating with an improved price target of $2.00. The broker made the move following a positive start to FY 2023 from Accent. It highlights that customer activity is showing no signs of a pullback so far and demand for new products is running strong. The Accent share price is trading at $1.69 on Monday afternoon.

Allkem Ltd (ASX: AKE)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this lithium miner’s shares by almost a third to $21.00. Macquarie has become even more bullish on Allkem after lifting its lithium price forecasts in response to strong spot prices and tight supply. This has led to major upgrades to its earnings estimates for Allkem over the next few years. The Allkem share price is fetching $12.50 on Monday.

Stockland Corporation Ltd (ASX: SGP)

Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this property company’s shares to $4.50. The broker highlights that Stockland recently delivered a solid full year result against a challenging backdrop. And while the broker acknowledges concerns surrounding the softening residential outlook, it feels this has been factored into its share price. Goldman also highlights that the company is progressing on its recently refreshed corporate strategy and expects this to support its growth in the coming years. The Stockland share price is trading at $3.64 today.

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

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More reading

• Why these ASX lithium shares are outperforming the market today
• Could ASX battery minerals shares be in for a boost next month?
• 2 excellent ASX growth shares that analysts say are buys
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Could Porsche’s new test run threaten the outlook for ASX lithium shares?

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 Accent Group. 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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