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:

BHP Group Ltd (ASX: BHP)

According to a note out of Morgans, its analysts have retained their add rating on this mining giant’s shares with a trimmed price target of $47.00. This follows the release of a mixed quarterly update from the Big Australian. One positive, though, was that BHP has reaffirmed its production and cost guidance for the full year despite the tough operating environment. Overall, the broker remains positive and continues to rate BHP as one of the best options in the sector. The BHP share price is trading at $38.11 today.

Santos Ltd (ASX: STO)

A note out of Citi reveals that its analysts have retained their buy rating and $10.70 price target on this energy producer’s shares. Citi was pleased with Santos’ performance during the third quarter and notes its strong realised prices. Overall, the record result was ahead of expectations and its strong free cash flow was a major highlight. The Santos share price is fetching $7.61 on Friday.

Transurban Group (ASX: TCL)

Analysts at JP Morgan have upgraded this toll road operator’s shares to an overweight rating with a $15.00 price target. According to the note, the broker has been pleased to see that traffic continues to increase on the company’s roads. This bodes well for its earnings and distributions, particularly given how toll prices are increasing. The Transurban share price is trading at $12.40 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

• Broker names the ASX dividend shares to buy now
• Here are the top 10 ASX 200 shares today
• Here’s what Goldman Sachs is saying about the BHP share price after the miner’s update
• ASX dividend shares ‘likely to remain attractive’ despite rising bank deposit rates: expert
• Santos share price lifts following US$1 billion quarter

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 no position in any of the stocks mentioned. 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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