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 that leading brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
Accent Group Ltd (ASX: AX1)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $3.10 price target on this footwear and athleisure retailerâs shares. Accent presented at Goldman Emerging Leaders conference and the broker was pleased with what it heard. It notes that cost pressures are starting to stabilise and Accent expects to offset this with one final price increase in July. In addition, it highlights that the company now has a higher return hurdle on new store openings to reflect a higher cost of capital. The Accent share price is trading at $2.48 today.
Alcidion Group Ltd (ASX: ALC)
A note out of Bell Potter reveals that its analysts have resume coverage on this commercial stage healthcare IT companyâs shares with a speculative buy rating and 20 cents price target. The broker believes that Alcidion is well-placed to benefit from governments across the globe supporting and funding the upgrade of hospitals to digital records and patient management systems. The Alcidion share price is fetching 11.5 cents on Tuesday.
Eagers Automotive Ltd (ASX: APE)
Analysts at Morgans have retained their add rating and $15.85 price target on this auto sellerâs shares. The broker highlights that electric vehicles (EV) sales have now hit 7.4% of the market. Morgans believes that Eagers is well-placed to benefit from this trend thanks to its direct leverage to EV penetration. The Eagers share price is trading at $13.75 this afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Tuesday
- Invest in this 6% yielding ASX 300 dividend stock for passive income
- Brokers name 3 ASX shares to buy now
- This ASX All Ords share has soared 70% in 6 months. Is it too late to buy?
- Don’t underestimate the earnings potential of this ASX 300 share: Goldman Sachs
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 positions in and has recommended Alcidion Group. The Motley Fool Australia has recommended Accent Group and Alcidion 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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