Top brokers name 3 ASX shares to buy today

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 Goldman Sachs, its analysts have initiated coverage on this corporate travel specialist’s shares with a buy rating and $20.20 price target. The broker highlights that Corporate Travel Management offers strong growth and margin accretion opportunities with improving scale and a consolidating market. The Corporate Travel Management share price is trading at $17.28 this afternoon.

Pilbara Minerals Ltd (ASX: PLS)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $5.70 price target on this lithium miner’s shares. This follows the company’s latest digital auction, which revealed another rise in prices for its spodumene. Macquarie was pleased with the results and is expecting more regular sales on the platform in the near future thanks to the ramp up of the Ngungaju project. The Pilbara Minerals share price is fetching $5.08 today.

Rio Tinto Limited (ASX: RIO)

Analysts at Morgans have retained their add rating and $108.00 price target on this mining giant’s shares. This follows the release of the company’s third quarter update. Although it was a touch disappointed with the update, it believes the market was already pricing in a softer performance. Overall, Morgans stated that the operational weak-points and guidance cuts are disappointing, but they are not material to Rio Tinto’s long-term fundamentals. The Rio Tinto share price is trading at $94.21 on Wednesday.

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

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Why Chalice Mining, Core Lithium, Corporate Travel Management, and NIB are rising
• Why is the Calix share price frozen on Wednesday? (Hint: it involves Pilbara Minerals)
• Why is the Pilbara Minerals share price storming 6% higher on Wednesday?
• 3 ASX 200 companies among the top 10 lithium producers in the world

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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended 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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