Category: Stock Market

Income investors that are looking for dividend options this week might want to check out the two ASX shares listed below.

Both of these ASX dividend shares have recently been tipped as buys by brokers. Here’s why analysts are bullish:

Baby Bunting Group Ltd (ASX: BBN)

The first ASX dividend share that is rated as a buy is leading baby products retailer Baby Bunting.

It has been tipped as a buy by analysts at Citi. This is partly due to its private label opportunity, which the broker believes has a significant runway for growth. Citi also highlights that it has a strong position in a less discretionary category, which bodes well for sales in the current environment.

As for dividends, the broker is forecasting fully franked dividends per share of 16 cents in FY 2022 and 19 cents in FY 2023. Based on the current Baby Bunting share price of $4.64, this will mean yields of 3.45% and 4.1%, respectively.

Citi has a buy rating and $6.22 price target on its shares.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that has been named as a buy is HomeCo Daily Needs REIT. It is a property company with a focus on neighbourhood retail, health and services, and large format retail.

Goldman Sachs is a big fan of HomeCo Daily Needs. Its analysts believe the company is well placed for growth thanks to the shift to omni channel retailing. In addition, Goldman highlights that the company has additional development and asset optimisation opportunities.

In respect to dividends, the broker is forecasting dividends per share of 8 cents in FY 2022 and 9 cents in FY 2023. Based on the current HomeCo Daily Needs share price of $1.36, this will mean dividend yields of 5.9% and 6.6%, respectively.

Goldman has a buy rating and $1.70 price target on its shares.

The post Here are 2 ASX dividend shares that brokers rate as buys appeared first on The Motley Fool Australia.

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More reading

• Why cheap hamburgers could give beginner ASX share investors food for thought
• What I love about these 2 ASX dividend shares
• Top brokers name 3 ASX shares to buy today
• 2 top ASX dividend shares that analysts rate as buys
• 2 excellent ASX dividend shares rated as buys by experts

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 Baby Bunting. 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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The BrainChip Holdings Ltd (ASX: BRN) share price had a stellar day on the market on Monday.

The company’s shares leapt 13.87% to close at 98.5 cents. For perspective, the  S&P/ASX 200 Index (ASX: XJO) rose 1.23% today.

Let’s take a look at what could have impacted the Brainchip share price today.

What’s going on?

Brainchip shares soared today, but they were not alone among the ASX technology shares. The Wisetech Global Ltd (ASX: WTC) share price jumped 7.16% while Life360 Inc (ASX: 360) gained 8.24%.

The S&P/ASX All Technology Index (ASX: XTX) closed 2.54% higher today.

Today’s gains in the technology sector followed in the footsteps of the United States on Friday. The technology-heavy NASDAQ leapt 2.31% in Friday’s trade. The NASDAQ-100 Technology Sector Index (NASDAQ: NDXT) jumped 2.47%. This followed some positive consumer economic data, the Washington Post reported.

Brainchip did not release any news to the market on Monday. In early June, the company was added to the ASX 200 index.

Brainchip is a a global artificial intelligence (AI) chip maker. The company has partnerships with high profile companies including NASA and Mercedes.

The AI cybersecurity market is predicted to be worth US$133.8 billion by 2030, according to a report cited by Globe Newswire today.

It stated the AI cybersecurity market was worth $14.9 billion in 2021.

Brainchip share price snapshot

The Brainchip share price has soared 107% in a year, rising nearly 45% in the year to date.

For perspective, the benchmark ASX 200 index has shed 9% in the past year.

Brainchip has a market capitalisation of nearly $1.7 billion based on the current share price.

The post Why did the BrainChip Holdings share price leap 14% on Monday? appeared first on The Motley Fool Australia.

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More reading

• Here’s a look at the 5 best ASX All Ords tech shares in FY22
• How Brainchip shares gained 63% in a year when tech stocks nosedived
• Why did the BrainChip share price crash 30% in June?
• Why is the BrainChip share price sliding 4% today?
• Why is the BrainChip share price gaining 5% on Friday?

Motley Fool contributor Monica O’Shea 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 Life360, Inc. and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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Are you interested in adding some ASX growth shares to your portfolio this week?

Two ASX growth shares that could be worth considering are listed below. Here’s why analysts at Bell Potter are bullish on them:

Altium Limited (ASX: ALU)

The first ASX growth share to look at is Altium. It is the leading printed circuit board (PCB) design software provider behind the Altium Designer platform.

Thanks to the company’s leadership position in a market growing rapidly, Altium’s management team has set itself some bold growth targets over the coming years. This includes more than doubling its revenue to US$500 million by 2026 and dominating its market.

Bell Potter is bullish on the company and believes it will achieve its guidance in FY 2022. It commented:

We do not, however, believe this [missing guidance] is the case as: 1. 1HFY22 revenue growth was strong; 2. Altium narrowed the revenue guidance range towards the upper end in late February knowing it would implement these marketing initiatives in Q4; 3. The strong momentum in Octopart in 1HFY22 is likely to continue into 2HFY22 and offset any weakness in China (due to lockdowns) and Russia.

Bell Potter has a buy rating and $34.00 price target on its shares.

Life360 Inc (ASX: 360)

Another ASX growth share that Bell Potter rates highly is location technology company Life360. It has over 30 million active users and is generating material recurring revenue from them.

And while Bell Potter acknowledges that the company isn’t profitable yet, it feels investors should look beyond this. This is due to Life360’s explosive growth, strong balance sheet, and expectation to be cash flow positive next year.

It commented:

Life360 develops and delivers a mobile app for families – called Life360 – that provides communications, driving safety and location sharing. The company adopts a freemium model to attract customers but has been successfully converting a portion of these customers to paying subscribers over the last several years by providing valuable features. The company has also recently made two acquisitions – Jiobit and Tile – so that now it not only connects and protects people but also pets and things. Yes Life360 is currently not profitable but is expected to be operating cash flow positive from 4Q2023 and has more than sufficient cash to fund its operations till then.

Bell Potter has a buy rating and $7.50 price target on Life360’s shares.

The post Broker names 2 ASX growth shares to buy now appeared first on The Motley Fool Australia.

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More reading

• 3 reasons I think Altium is a top ASX growth share
• Chicken and chips: Experts name 3 ASX shares to buy right now
• 2 top ASX 200 shares brokers rate as buys
• Here’s why analysts are tipping these ASX growth shares as buys
• Has a turnaround already begun for ASX tech shares? Experts reveal the outlook for FY23

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium and Life360, Inc. 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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Australia and New Zealand Banking Group Ltd (ASX: ANZ) wants to buy the banking segment of Suncorp Group Ltd (ASX: SUN). But why?

The big four ASX bank is going to a lot of effort to acquire Suncorp, spending millions of dollars on transaction costs and capital raising.

Indeed, it’s raising around $3.5 billion in new shares at a 12.7% discount to the latest closing ANZ share price of $21.64.

ANZ is buying the earnings and the loan book of Suncorp. The purchase price of $4.9 billion represents a price/earnings (p/e) ratio of 13.8 times before synergies or 9.3 times after the full run-rate synergies. It also represents 1.3 times the net tangible assets (NTA).

It’s expected to be approximately neutral for earnings per share (EPS) on a pre-synergies, pro forma basis for FY23. Including the synergies, it’s expected to add to EPS in the low single-digits. The expected annual cost synergies are around $260 million, pre-tax, which is around 35% of Suncorp banking’s reported cost base in FY22.

Why does ANZ want to buy Suncorp Bank?

A low single-digit rise of EPS may not sound that compelling. But, there are other factors that ANZ is considering.

Speaking at the Suncorp and ANZ Media Conference, ANZ CEO Shayne Elliott said:

We’re acquiring a 1.2 million customer base, 700,000 of whom live here in Queensland, 400,000 of whom consider Suncorp Bank their main bank. That’s a very, very valuable franchise. Customers are really at the heart of what we’re acquiring, not bricks and mortar.

ANZ has committed to making no change to the total number of Suncorp bank branches in Queensland “for at least three years from completion”. Time will tell what happens after those three years.

Increases exposure to Queensland

ANZ described Queensland as one of Australia’s most important regions.

Buying Suncorp’s banking operations is aimed at accelerating the growth of its retail and commercial businesses, while also “improving the geographic balance of its business in Australia”.

Elliott explained the appeal of the Queensland economy:

Since March 2020, Queensland has recorded better economic growth, better workforce participation and more interstate migration than any other state or territory in Australia. It contributes 18% to Australia’s GDP and we believe we can use the resources at our disposal to further contribute to its continued success.

Bigger loan book

ANZ also said that the acquisition would include $47 billion of home loans, $45 billion in deposits, and $11 billion of commercial loans.

ANZ share price snapshot

Shares of the big bank were in a trading halt today. Over the last month, the ANZ share price has risen 2.27%.

The post ‘Not bricks and mortar’: The real value in ANZ acquiring Suncorp’s banking operations appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• ‘Really strong case’: Can ANZ win over the new ACCC boss?
• Why a Suncorp buyout could mean more green funding for Queensland
• State of the future: Why ANZ is excited about Queensland’s potential
• Why Ansell, EML, Suncorp, and Whitehaven Coal shares are charging higher

Motley Fool contributor Tristan Harrison 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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The Flight Centre Travel Group Ltd (ASX: FLT) share price had a buoyant day on the ASX today.

The company’s share price jumped 4.32% to $17.37. For perspective, the S&P/ASX 200 Index (ASX: XJO) rose 1.23% today.

Let’s take a look at how the Flight Centre share price performed today.

Why is the Flight Centre share price higher today?

Flight Centre shares were not the only ASX travel shares to take off today. Webjet Ltd (ASX: WEB) shares jumped 3.7% while Qantas Airways Limited (ASX: QAN) shares gained 2.04%.

Flight Centre shares climbed today following comments on the weekend from Flight Centre general manager Brent Novak that “revenge travel” is back.

The online travel agency is seeing a strong interest in travel to Fiji, along with Indonesia and the United States, The Australian reported. Commenting on the outlook for travel, Novak said:

Our customers have had to put a wide range of holidays, ­family reunions and special events on hold over the last two years and are now booking these long-awaited trips.

We expect the trend for travel across the northern hemisphere to continue throughout the northern summer as steady volumes of Flight Centre customers continue to book revenge travel.

In the first week of July, 50% of online travel interest was for Indonesia, while Fiji was 18%, United States 8.1%, and Vanuatu 4%.

US travel shares also had a positive day on Friday, the most recent day of trading in the US.

The shares of online travel giant Expedia Group Inc (NASDAQ: EXPE) jumped 3.27%. Meanwhile, Delta Air Lines, Inc (NYSE: DAL) shares gained 1.07%, while American Airlines Group Inc (NASDAQ: AAL) shares closed 1.54% higher.

Flight Centre share price snapshot

The Flight Centre share price has gained almost 16% in a year although it has fallen around 1.5% year to date.

For perspective, the benchmark ASX 200 index has shed 9% about in a year.

Flight Centre has a market capitalisation of more than $3.47 billion based on the current share price.

The post Flight Centre share price leaps as ‘revenge travel’ takes off appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX shares today
• This ASX 200 gold miner’s value has plunged from $2b to under $700m. Could it be set for some major M&A action?
• These are the 10 most shorted ASX shares
• I think these 2 ASX 200 dividend shares are buys for income
• ASX 200 midday update: ANZ to buy Suncorp Bank for $5bn, Whitehaven Coal’s update

Motley Fool contributor Monica O’Shea has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Delta Air Lines. The Motley Fool Australia has recommended Flight Centre Travel Group Limited and Webjet Ltd. 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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S&P/ASX 200 Index (ASX: XJO) shares bounced back from Friday’s disappointing trade today, starting the week out on the right foot. The index closed Monday’s session 1.23% higher at 6,687.10 points.

Leading the upwards charge was the S&P/ASX 200 Information Technology Index (ASX: XIJ). The tech sector lifted more than 2% on Monday following Friday’s strong session on Wall Street.

The tech-heavy NASDAQ Composite rose 1.79% on Friday overseas. The S&P 500 also lifted 1.92% while the Dow Jones Industrial Average gained 2.15%.

Financial shares were also among today’s winners. They were bolstered by news Suncorp Group Ltd (ASX: SUN)’s Suncorp Bank is set to be snapped up by Australia New Zealand Banking Group Ltd (ASX: ANZ) in a $4.9 billion takeover deal.

Meanwhile, the S&P/ASX 200 Health Care Index (ASX: XHJ) was the market’s worst performing sector, slipping around 0.7%.

At the end of today’s trade, eight of the ASX 200’s 11 sectors were trading in the green.

But which shares outperformed all others on Monday? Keep reading to find out.

Top 10 ASX shares countdown

The best performing share among ASX’s 200 biggest companies by market capitalisation on Monday was Genesis Energy Ltd (ASX: GNE).

The Genesis Energy share price soared around 10% today. Find out more about what the company has been up to here.

Lithium shares also outperformed today. Both Core Lithium Ltd (ASX: CXO) and Liontown Resources Limited (ASX: LTR) were among today’s ten best performers.

Today’s top 10 biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Genesis Energy Ltd (ASX: GNE)	$2.75	10%
Pendal Group Ltd (ASX: PDL)	$4.06	7.98%
Liontown Resources Limited (ASX: LTR)	$1.02	7.37%
WiseTech Global Ltd (ASX: WTC)	$47.05	6.62%
Ventia Services Group Ltd (ASX: VNT)	$2.64	6.02%
Suncorp Group Ltd (ASX: SUN)	$11.745	5.81%
Grange Resources Ltd (ASX: GRR)	$1.19	5.31%
Core Lithium Ltd (ASX: CXO)	$0.9425	5.31%
Stanmore Resources Ltd (ASX: SMR)	$2.00	5.26%
Boral Limited (ASX: BLD)	$2.705	5.25%

Data as at 3:59pm AEST.

Our top 10 ASX shares today countdown is a recurring end-of-day summary to ensure you know which companies were making big moves on the day. Check in at Fool.com.au after the market has closed during weekdays to see which stocks make the countdown.

The post Here are the top 10 ASX shares today appeared first on The Motley Fool Australia.

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More reading

• Leading brokers name 3 ASX shares to buy today
• Why a Suncorp buyout could mean more green funding for Queensland
• State of the future: Why ANZ is excited about Queensland’s potential
• Why Ansell, EML, Suncorp, and Whitehaven Coal shares are charging higher
• This ASX 200 gold miner’s value has plunged from $2b to under $700m. Could it be set for some major M&A action?

Motley Fool contributor Brooke Cooper 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 WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. 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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The Lovisa Holdings Ltd (ASX: LOV) share price was on form on Monday.

The fashion jewellery retailer’s shares started the week with a 2.5% gain to $16.09.

Can Lovisa’s shares keep rising?

The good news is that the Lovisa share price could have significant room to climb from current levels.

According to a note out of Morgans from last week, its analysts have an add rating and $21.50 price target on the company’s shares.

Based on where Lovisa’s shares currently trade, this implies potential upside of ~34% for investors over the next 12 months.

Morgans is bullish on the company due to its belief that it could become a “global force.”

‘A global force’

Under the leadership of its relatively new and highly experienced CEO, Victor Herrero, the broker believes that Lovisa has a huge growth opportunity globally.

It explained:

Lovisa’s global footprint now spans 22 countries. In our opinion, investors can expect this number to increase steadily while, at the same time, Lovisa builds out its presence in its existing markets. We do not think there is any lack of opportunity.

In the US, for example, Lovisa now has 81 stores, representing 0.25 stores for every million people), compared to Australia with 158 stores, 6.15 stores for every million people. Given Mr Herrero is well-incentivised to grow Lovisa’s EBIT rapidly over the next three years, and has already appointed senior former Inditex executives to his regional team, we could be at the start of a period of remarkable expansion.

In light of this, Morgans believes Lovisa could become one of the biggest success stories in Australian retail.

LOV may just prove to be one of the biggest success stories in Australian retail. With ambitious (and financially well-incentivised) new leadership in place, we think now is the time LOV steps up to become a global force.

The post Own Lovisa shares? Why this broker believes the retailer could be a ‘global force’ appeared first on The Motley Fool Australia.

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More reading

• Here are 3 excellent ASX growth shares for investors to buy in July
• Analysts name 3 buy-rated ASX growth shares for July
• Here’s why I think Lovisa could be a top ASX dividend share
• Analysts name 2 excellent ASX shares to buy and hold
• Brokers name 3 ASX shares to buy today

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 Lovisa Holdings Ltd. 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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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

As crypto prices sink to new lows, it can be a daunting time to invest. Nobody knows for certain when the market will bottom out or how long it might take to recover, and there are no guarantees that crypto will recover at all.

That said, now is also one of the best times to invest. Prices are lower than they’ve been in months, making it one of the most affordable opportunities to buy. Also, if prices eventually rebound, you could stand to make a lot of money by investing now.

Choosing the right investments, though, is key. While there are never any guarantees that any cryptocurrency will succeed over time, there’s one that I’m stocking up on right now: Ethereum (CRYPTO: ETH).  

Could Ethereum be a lucrative investment?

Ethereum’s biggest strength is its blockchain network and its ability to host decentralized applications (dApps). These dApps range from non-fungible token (NFT) marketplaces to decentralized finance (DeFi) projects to metaverse applications.

If any of these areas see growth over time, Ethereum will benefit from it. Also, because Ethereum is the most popular network for dApps, it has the most potential for growth if NFTs, DeFi, or the metaverse succeed.

Currently, Ethereum is the second most popular cryptocurrency behind Bitcoin, with a market cap of around $135 billion. For context, Solana and Cardano — two of Ethereum’s biggest competitors — have market caps of roughly $12 billion and $14 billion, respectively. 

Where Ethereum falls short

Although Ethereum is the biggest and strongest decentralized network, it has its flaws, too — primarily when it comes to its speed.

Right now, Ethereum can handle only around 14 transactions per second. Not only does that limit the number of transactions on the network, but it also creates extremely high transaction costs for users. As a result, many users and developers have flocked to smaller, faster networks like Solana.

The good news is that Ethereum developers are working on an update to solve this problem. This upgrade will move Ethereum from a proof of work (PoW) protocol to a proof of stake (PoS) system, which could help the network reach speeds of up to 100,000 transactions per second.

When, exactly, that update will be completed is unclear. So far, the rollout has been plagued by delays. The latest phase of the update, called “The Merge,” should happen sometime in 2022, and the final phase is planned for 2023 or 2024.

While Ethereum’s upgrade is a positive move for the network, anything could happen between now and when it’s completed. Newer cryptocurrencies are being developed by the day, and there’s a lot of time for competitors to gain traction in the market.

Is Ethereum a good investment?

Despite its imperfections, Ethereum is one of the stronger cryptocurrencies out there. It’s also heavily discounted right now, with its price down roughly 77% from its peak in November. If you’ve been waiting for a chance to invest, now could be your opportunity.

Before you buy, though, consider your tolerance for risk. There are no guarantees that Ethereum (or any cryptocurrency) will thrive over time, so there’s always a chance you could lose your investment. Be sure, then, that you’re only investing money you can comfortably afford to lose.

While nobody knows what the future holds for crypto, Ethereum may have what it takes to stick around for the long haul. If you’re willing to take on more risk for the chance of seeing potentially lucrative returns, it could be the right investment for you. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post No contest: My top crypto to buy now appeared first on The Motley Fool Australia.

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More reading

• Could this one metric be why the Ethereum price is down 5% today?
• Why FY22 was the best and worst of years for the Ethereum price
• The Ethereum price collapsed 47% in June. Here’s why
• How did the price of crypto assets perform in June?
• Ethereum price falls after hackers begin laundering $100 million bridge exploit

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bitcoin, Ethereum, and Solana. The Motley Fool Australia owns and has recommended Bitcoin, Ethereum and Solana. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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Rebounding from last week’s losses, the ALS Ltd (ASX: ALQ) share price is heading north on Monday.

At the time of writing, the testing services company’s shares are swapping hands at $10.36, up 1.97%.

For context, the S&P/ASX 200 Index (ASX: XJO) is 0.97% higher following a strong finish by Wall Street on Friday.

ALS insider buying action continues

In light of the recent slump, the company’s non-executive director, John Mulcahy recently took advantage of ALS’s share price weakness.

In a statement to the ASX, the company advised that Mulcahy purchased 25,000 ALS shares at a price of $10.276 apiece. This was conducted via an on-market trade on 14 July by Mulcahy’s indirect interest, Juntos Investments Pty Ltd.

The transaction equates to the value of $256,900.

Following the latest purchase, this means that Mulcahy now holds a total of 79,027 ALS indirect shares across his holdings.

The buy-in comes after another insider, non-executive Leslie Desjardins, picked up 6,800 ALS shares in late May.

It seems that some members of the board believe that ALS shares are trading at bargain levels for the moment.

It is worth noting that the ALS share price touched a 52-week low of $9.96 on 13 July before slightly recovering lost ground today.

This is a sharp contrast from when it was trading at a year-to-date high of $13.76 on 5 April.

ALS share price summary

Despite today’s gain, the ALS share price has fallen by 17% in the past 12 months.

In 2022, its shares are down 20%.

Based on today’s price, ALS presides a market capitalisation of approximately $4.92 billion.

The post Guess how much one insider spent on this ASX 100 share in the past week appeared first on The Motley Fool Australia.

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More reading

• HRL share price jumps 10% as board backs takeover from ALS
• Guess which small-cap company is soaring 71% on a takeover bid from an ASX 200 share

Motley Fool contributor Aaron Teboneras 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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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:

Jumbo Interactive Ltd (ASX: JIN)

According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this lottery ticket seller’s shares to $17.50. Although Jumbo fell short of Morgans’ earnings estimates in FY 2022, it believes post-announcement share price weakness has created an attractive entry point for investors. Particularly given the company’s positive long term outlook thanks to the shift online and its large opportunity as a software-as-a-service provider. The Jumbo share price is trading at $13.03 today.

Rio Tinto Limited (ASX: RIO)

A note out of Citi reveals that its analysts have retained their buy rating but cut their price target on this mining giant’s shares to $120.00. Although Citi wasn’t overly impressed with Rio Tinto’s second quarter performance, it sees plenty of value and double-digit dividend yields on offer with its shares. In light of this, the broker holds firm with its positive rating. The Rio Tinto share price is trading at $95.11 on Monday afternoon.

WiseTech Global Ltd (ASX: WTC)

Analysts at Ord Minnett have retained their buy rating but trimmed their price target on this logistic solutions company’s shares to $50.50. The broker believes that the company’s upgraded earnings guidance highlights its successful focus on costs amid slowing container volumes. And while it acknowledges that moderating global container volumes could be a headwind, Ord Minnett sees further cost saving opportunities with the company’s legacy platforms. The WiseTech share price is trading at $46.95 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

• Here’s what brokers are saying about the Rio Tinto share price
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX shares today
• Why Ardent Leisure, Michael Hill, National Storage, and WiseTech shares are rising
• 3 ASX All Ords shares tumbling into the weekend

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 Harvey Norman Holdings Ltd. and WiseTech Global. The Motley Fool Australia has positions in and has recommended Harvey Norman Holdings Ltd. and WiseTech Global. 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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