Many of Australiaâs top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
Allkem Ltd (ASX: AKE)
According to a note out of Macquarie, its analysts have retained their outperform rating and $17.00 price target on this lithium minerâs shares. This follows the release of a mineral resource estimate upgrade for its Olaroz operation. Macquarie was pleased with the news and remains bullish on the companyâs outlook. The Allkem share price is trading at $11.82.
Ingenia Communities Group (ASX: INA)
A note out of Citi reveals that its analysts have initiated coverage on this land lease and holiday park companyâs shares with a buy rating and $4.40 price target. Citi likes Ingenia due to its land lease exposure. This is due to its secure CPI-linked income stream, with strong medium-term growth potential from an ageing population and an attractive product versus other retirement alternatives. The Ingenia share price is fetching $3.59 this afternoon.
Liontown Resources Ltd (ASX: LTR)
Analysts at Bell Potter have retained their speculative buy rating on this lithium developerâs shares with an improved price target of $3.35. This follows news that industry giant Albemarle has made a non-binding takeover offer of $2.50 per share. Bell Potter believes this speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector. And while its analysts believe the offer is reasonable, they donât believe it is full and support managementâs decision to reject it. The Liontown share price is trading at $2.61 today.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- 2 ASX 200 stocks smashing new 52-week highs on Wednesday
- Broker says buy Pilbara Minerals shares now for 44% upside
- Takeover offer âreasonable but not fullâ: Broker says Liontown shares are worth more
- Why the outlook for these ASX 200 lithium shares could be ‘very favourable’
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro has positions in Allkem. 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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