There’s no better time to catch a wave than when it’s just started.

So here are two S&P/ASX 200 Index (ASX: XJO) buy suggestions from experts that have just started their rally:

‘Poised to deliver strong earnings growth’

Netwealth Group Ltd (ASX: NWL) shares have been busy climbing 36% since late October.

Sequoia Wealth senior advisor Peter Day still likes the look of them.

“The company’s high quality investment platform is poised to deliver strong earnings growth driven by market share gains, in our view,” Day told The Bull.

Investors’ money is flowing into the investment tool.

“Funds under administration (FUA) stood at $78 billion at December 31, 2023. 

“FUA increased by 24.9% for the year to December 31, 2023. FUA net inflows accounted for $9.5 billion and a positive market movement accounted for $6 billion.”

Unusually for a fintech, Netwealth shares pay out a dividend, which currently stands at 1.4% yield.

“This wealth management business offers an appealing outlook.”

Comeback year for this ASX 200 stock

The Resmed CDI (ASX: RMD) share price has been coming back hard after it fell off a cliff last reporting season.

Fears about the impact of GLP-1 weight loss drugs such as Ozempic sent the ASX 200 stock to a trough in late September, but it has soared 38% since.

Catapult Wealth portfolio manager Tim Haselum acknowledged that obesity is “a contributing factor” towards sleep apnoea, which ResMed’s devices treat.

ResMed, with its latest update, dispelled the scares from last year.

“In the second quarter of fiscal year 2024, the company grew revenue by 11% on a constant currency basis compared to the prior corresponding period,” said Haselum.

“We expect the sleep apnoea business to grow moving forward.”

According to CMC Invest, 18 out of 25 analysts rate the healthcare stock as a buy, just like Haselum.

The post ‘Appealing outlook’: 2 ASX 200 shares that just started their latest rally appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• Hoping to bag the ResMed dividend? You better be quick!
• Top brokers name 3 ASX shares to buy next week
• 3 ASX All Ords shares with ex-dividend dates in the next week
• Top ASX shares to buy in February 2024

Motley Fool contributor Tony Yoo has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group and ResMed. The Motley Fool Australia has positions in and has recommended Netwealth Group and ResMed. 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 interest rates most likely at their peak, and very possibly coming down later in 2024, history tells us this could be a really big year for S&P/ASX 200 Index (ASX: XJO) shares.

Lower interest rates tend to benefit most stocks, though often with a lag. As you’d expect, some stocks tend to get more tailwinds from falling rates than others.

Among those are ASX 200 shares involved in the consumer discretionary sector. That’s especially true because we’re likely looking at lower rates going hand in hand with lower inflation in Australia.

And that means more money left in consumers’ pockets to spend on those services and goods they don’t really need but do really want.

Below we look at three ASX 200 shares in that sector that I believe could outperform in a falling rate environment.

Electronics and household goods stocks

First up we have electronics and home appliance retailer, JB Hi-Fi Ltd (ASX: JBH).

The ASX 200 retail share saw its comparable sales growth for the September quarter dip across Australia and New Zealand, with its Good Guys segment also reporting lower sales.

Yet the JB Hi-Fi share price began marching higher in late October.

Partly spurred by increasing investor optimism of pending rate cuts from the RBA and the US Federal Reserve, the ASX 200 share leapt 36% from 26 October through to 15 January.

Amid headwinds that include the dawning reality that, while interest rates may have peaked cuts are still likely some months away, the JB Hi-Fi share price is down 7% since 15 January.

With shares trading at a 5.62% fully franked dividend yield, and the expectation that consumer spending power could rebound later in 2024, now could be an opportune time to dig deeper into this company.

Which brings us to home furnishings and white goods retailer Harvey Norman Holdings Ltd (ASX: HVN).

Like JB Hi-Fi, this ASX 200 retail share saw revenues and profits fall in 2023 as consumers delayed non-essential purchases.

And like JB Hi-Fi, the Harvey Norman share price soared 25% from 26 October through to 23 January. Shares are down 2.25% since then.

While the share price may have further to retrace, an uptick in household discretionary spending amid lower inflation and interest rates should, with some expected delay, translate to rebounding sales and profits for the ASX 200 retail share.

Atop a higher share price, that could also see Harvey Norman up its dividends. The retail stock currently trades at a fully franked trailing yield of 5.76%.

An ASX 200 share for all seasons

The third ASX 200 share that could have a big year in 2024 is gaming technology company Aristocrat Leisure Limited (ASX: ALL).

The Aristocrat share price has been on an upward trend for the past 12 months, with shares up 22.51% since this time last year. That tells us that, despite the pressure on household budgets, consumers didn’t cut back their gambling spend.

For the 12 months ending 30 September, Aristocrat reported a 13% year on year increase in revenue to $6.3 billion. And it reported that net profit after tax was up 53% to $1.45 billion.

Management also expects to continue to grow profits in 2024. A forecast that should be aided as interest rates and inflation come off the boil.

The ASX 200 share currently trades at a 1.44% fully franked dividend yield.

The post History shows 2024 could be a big year for ASX 200 shares. Here are 3 to look at now appeared first on The Motley Fool Australia.

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• Here are the top 10 ASX 200 shares today
• Stocks on the rocks: Why the ASX 200 is backtracking from record highs today
• 5 things to watch on the ASX 200 on Monday
• Here’s how the ASX 200 market sectors stacked up this week
• Why these 3 ASX 200 shares leapt into the Motley Fool’s headlines this week

Motley Fool contributor Bernd Struben 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 positions in and has recommended Harvey Norman. The Motley Fool Australia has recommended Jb Hi-Fi. 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 post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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• Why Atlantic Lithium, Johns Lyng, Pro Medicus, and WiseTech shares are rising today
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• Stocks on the rocks: Why the ASX 200 is backtracking from record highs today
• Apple Vision Pro and an ASX 200 healthcare share hitting all-time highs
• These are the 10 most shorted ASX shares

Motley Fool contributor Sebastian Bowen 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 Johns Lyng Group, Netwealth Group, Pro Medicus, and WiseTech Global. The Motley Fool Australia has positions in and has recommended Netwealth Group and WiseTech Global. The Motley Fool Australia has recommended Johns Lyng Group and Pro Medicus. 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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2023 was a lucrative year for ASX’s army of dividend investors. The year just gone saw major dividend hikes from almost all of the major ASX 200 blue-chip shares.

Commonwealth Bank of Australia (ASX: CBA)? It raised its dividends from $3.85 per share in 2022 to $4.50 per share last year. National Australia Bank Ltd (ASX: NAB) followed a similar path, dialling up its own shareholder payouts from $1.51 per share to $1.67.

Last year, we also saw dividend hikes from Woolworths Group Ltd (ASX: WOW), Coles Group Ltd (ASX: COL), Wesfarmers Ltd (ASX: WES) and Transurban Group (ASX: TCL).

The dividends from the big players in the mining and energy spaces mostly reduced their dividends in 2023 compared to 2022’s levels.

But given how monstrous the payouts were in that year from the likes of BHP Group Ltd (ASX: BHP) and Woodside Energy Group Ltd (ASX: WDS), 2023’s dividends still look very high from a historical standpoint.

However, 2024 could give investors a different story, and not entirely a pleasant one, if one ASX expert is to be believed.

Fund manager Ausbil recently spoke to the Australian Financial Review (AFR) about its projections for the present year. Although Ausbil predicted that “dividends this year will be broadly in line with 2023”, it also warned investors that “the local market’s dividend yield will be slightly lower because of soaring valuations”.

So if yields from major ASX shares are going to be lower over 2023, where should income investors look to for passive income this year?

3 ASX dividend shares to consider in 2024

Considering the warning from Ausbil, the first dividend stock I would turn to is Telstra Group Ltd (ASX: TLS). Unlike many ASX 200 shares, the Telstra share price actually went backwards last year, dropping from over $4.40 in July to a low of $3.75 in November.

But this fall, probably unwelcomed by shareholders, has boosted Telstra’s dividend yield today, which sits at a fully franked 4.21%. Telstra has one of the most defensive earnings bases on the ASX in my view. As such, I regard its ASX dividends as highly reliable. Even better, some brokers reckon the company could give investors another pay raise this year.

Next, I’d think about Coles Group. Coles is another blue-chip stock that spent 2023 going backwards. But again, this has been a boon for new income investors. At under $16 today. Coles shares offer a fully-franked yield of 4.13%.

This is another company that has a highly defensive earning base from which it pays out ASX dividends. We recently looked at one expert’s prediction that Coles might be forking out 70 cents per share by FY2025.

Lower share prices mean higher dividend yields

Finally, I think income investors should kick the tyres of Transurban. Transurban shares have been rather flat over many years now. Today’s prices are cheaper than what you could have bought the company at way back in 2019. Not to mention their pre-COVID 2020 peak of over $16.

However, we see a different story playing out if we look at this toll road operator’s dividends. After a big dip in 2020, Transurban’s ASX dividends are now back to their 2019 levels.

Given the company’s ability to easily pass on inflation to motorists, I think there’s a reasonable shot at the company growing its dividends even further over 2024.

At today’s share price of $13.44, you can grab a dividend yield of 4.32% from Transurban.

The post Falling yields? I’d buy these ASX dividend beasts for a beefed-up income in 2024 appeared first on The Motley Fool Australia.

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More reading

• Brokers say these ASX dividend stocks are buys
• Goldman Sachs says Telstra and these 6 ASX shares are buys
• Got $15,000? How I’d invest for a bulletproof ASX passive-income portfolio
• 2 world-class ASX 50 shares to buy for your portfolio
• What could happen to Telstra shares if interest rates fall?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank, Telstra Group and Wesfarmers. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group and Wesfarmers. The Motley Fool Australia has positions in and has recommended Coles Group, Telstra Group, and Wesfarmers. 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 Argo Investments Ltd (ASX: ARG) share price is slipping today after the listed investment company (LIC) reported its half-year earnings for the six months to 31 December 2023.

Argo shares closed at $9.10 each last week. Today the LIC opened at $9.10 a share but has dropped 0.55% to $9.05 at the time of writing after falling as low as $9.03 this afternoon.

Still, investors might not be too disappointed given that the broader S&P/ASX 200 Index (ASX: XJO) is currently nursing a far more substantial 1.04% loss at present.

Half-year report highlights EPS, profits drop

• Argo reported a half-year profit of $125.3 million for the first half of the 2024 financial year (1H24), down 8.5% on the first half of the 2023 financial year (1H23)
• Earnings per share (EPS) of 16.5 cents, down 9.3% from 1H23’s 18.2 cents
• Unchanged interim dividend of 16.5 cents per share, fully franked,
• Net tangible assets of $9.33 per share as of 31 December, up from $8.75 at the end of 1H23
• Management expense ratio (fee) reduced from 0.16% to 0.15%

What else happened in 1H24?

Argo’s investment portfolio increased by 5.6% over the six months to 31 December 2023. This figure includes taxes that Argo has paid, as well as the management expense ratio. That underperformed the benchmark S&P/ASX 200 Accumulation Index, which achieved a return of 7.6% over the same period.

Some major moves that the LIC made in its investment portfolio include opening a position in ResMed Inc (ASX: RMD) and buying up more shares in CSL Limited (ASX: CSL), Santos Ltd (ASX: STO) and Woodside Energy Group Ltd (ASX: WDS).

Positions in Liontown Resources Ltd (ASX: LTR), Insurance Australia Group Ltd (ASX: IAG) and Invocare Ltd were closed, reducing Argo’s overall portfolio to 86 positions.

Investors seem to have been more optimistic over the latter half of 2023 than they were at the time of Argo’s October annual general meeting (AGM).

Following the company’s AGM in late October, the Argo share price fell more than 2% over just a few days. That was despite the company announcing that it expected an improvement in global economic conditions (which have subsequently proved prescient).

What did management say?

There was no specific commentary from Argo’s management in today’s report. However, here’s some of what the company said on its half-year:

Holdings in [Clarity Pharmaceuticals Ltd (ASX:CU6)] (up more than +170%) and [Stanmore Resources Ltd (ASX: SMR)] (up nearly +60%) contributed positively to performance. However, gains were offset by negative returns from other holdings, including pathology and imaging provider [Healius Ltd (ASX: HLS)].

In general, Australian healthcare providers have lagged due to higher costs and lower utilisation levels. Not owning Fortescue Ltd (ASX: FMG)] materially weighed on relative performance, as did our underweight exposure to the major banks…

The share price performance was +5.4%, with Argo shares now trading at a slight discount to their NTA backing. Sharply higher returns from term deposits have decreased the comparative appeal of many equity investments, including listed investment companies (LICs). We expect this trend to reverse as the monetary policy cycle continues and interest rates fall.

What’s next for Argo?

Despite the bullish performance of the ASX stock market over 2024 so far, Argo is approaching the coming year with caution. The company warned that “bullish sentiment has seen investors largely overlook consensus expectations of lower company earnings for the remainder of 2024 and cast aside concerns about slowing growth and/or a monetary policy misstep”.

Argo is also warning investors not to discount geopolitical threats during 2024, including the upcoming US elections. However, the company also argues that “With a strong balance sheet, no debt and cash on hand, Argo is well positioned as we enter the new calendar year”.

Argo share price snapshot

As you can see in the chart above, the Argo share price has struggled in recent months. The company remains down 4.74% over the past year but has gained 1.8% over the last six months.

At the current Argo share price, this ASX LIC has a market capitalisation of $6.84 billion, with a dividend yield of 3.82%.

The post Argo share price falls as profits drop 8% appeared first on The Motley Fool Australia.

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• ASX passive income: Is Westpac stock a buy, sell, or hold?
• 3 top ASX 200 blue chip shares to buy in February
• Up 80% in 6 months, is a monumental earnings boom just around the corner for this tiny ASX stock?
• Why Macquarie shares could be poised for an AI windfall
• Buying NAB shares? Here’s why your dividend yield is down 20% in 8 months

Motley Fool contributor Sebastian Bowen has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL. 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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Westpac Banking Corp (ASX: WBC) stock is traditionally a popular option on the ASX for passive income.

Each year, the bank shares a good portion of its profits with shareholders in the form of dividends.

But while dividends are great to receive, there’s no point overpaying for them.

After all, if you overpay, you could end up losing more in share price declines than you would from dividends gained.

So, with that in mind, is Westpac stock a buy for ASX passive income? Let’s find out.

Should you buy Westpac stock on the ASX for passive income?

Unfortunately, opinion remains divided on whether Westpac shares are a good option right now.

For example, if we start with the bears, Morgan Stanley put an underweight rating and $21.70 price target on the bank’s shares last week. This implies potential downside of 10% for investors from current levels.

And while the broker is forecasting a $1.44 per share dividend in FY 2024, this attractive fully franked 6% dividend yield won’t fully offset that potential downside.

Over at Macquarie, its analysts currently have an outperform rating on Westpac stock. However, the broker’s price target of $24.00 is broadly in line with where its shares trade today.

Its analysts are forecasting a $1.42 per share dividend in FY 2024, which represents a 5.9% yield.

The bulls

Finally, the bulls at Ord Minnett see both meaningful upside and a generous dividend yield.

The broker has an accumulate rating and $28.00 price target on Westpac’s stock. This implies potential upside of approximately 20% for investors over the next 12 months.

As for passive income for this ASX bank share, its analysts are expecting a $1.45 per share dividend in FY 2024. This equates to a 6% yield at current prices.

The post ASX passive income: Is Westpac stock a buy, sell, or hold? appeared first on The Motley Fool Australia.

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• Westpac ordered to pay $10 million after ‘unconscionable conduct’
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Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie 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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As an ASX 200 bank stock, National Australia Bank Ltd (ASX: NAB) shares have always been sought out by income investors. NAB, like most of its banking peers, has been paying out generous dividends to its shareholders for decades. As such, it’s often a go-to stock for passive income seekers on the ASX.

Looking at NAB stock today, you can see that the bank offers a pretty compelling trailing dividend yield of 5.23%. That comes fully franked as well (as is typical of NAB’s dividends). So right off the bat, income investors might be pretty pleased with what they see from NAB shares in February 2024.

Yes, NAB has a starting dividend yield of 5.23% today. However, if you’re thinking about buying NAB shares today, consider this. If you picked up NAB shares around eight months ago, your dividend yield would have been far higher.

How much higher? Well, around 21%. NAB stock might be trading with a yield of 5.23% today. But back in early June 2023, investors were looking at a starting yield of 6.65%.

Why has the dividend yield on NAB shares collapsed for new buyers?

You might be wondering how that is possible. After all, 2023 was a great year for NAB income investors, with the bank increasing its annual dividends per share to $1.67, up from $1.51 per share in 2022.

However, a dividend yield is a function of two different inputs, and only one of them is the actual dividends per share that a company pays. The other is the company’s share price. And the NAB share price’s recent performance explains why its dividend yield has dropped by more than 20% over the past eight months.

Today, the NAB share price is riding relatively high at $32.06 at the time of writing. That’s only a whisker away from the bank’s current 52-week high of $32.60 that we saw last week.

Yet back in early June, NAB hit a new 52-week low of just $25.10 a share. For starters, this means that NAB shares have appreciated by almost 30% over the past eight months. But it has also meant that NAB’s dividend yield has plunged by a similar amount.

If NAB doles out $1.61 in dividends per share and its share price is at $25.10, then the dividend yield will come out at 6.65%. However, if the bank rises to $32.06 a share (which it has), and that raw dividend per share amount hasn’t changed, then NAB’s new dividend yield would be 5.23%. Which is the metric we are seeing today.

So NAB shareholders have been victims of their own success to a certain degree. Due to the company’s sharp rise in valuation, anyone buying NAB today is getting a rougher deal in dividend terms than they were eight months ago.

But for anyone who did buy eight months ago, you’d still be sitting on a 6.65% yield (assuming NAB keeps forking out income at least at the same rate going forward).

The post Buying NAB shares? Here’s why your dividend yield is down 20% in 8 months appeared first on The Motley Fool Australia.

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• Got $15,000? How I’d invest for a bulletproof ASX passive-income portfolio
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• I’m buying cheap ASX shares to build my wealth in 2024 and beyond
• Lifetime income: 3 ASX dividend stocks I’m planning to never sell

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a sizeable decline. At the time of writing, the benchmark index is down 0.85% to 7,634.3 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Core Lithium Ltd (ASX: CXO)

The Core Lithium share price is down 5% to 18.5 cents. This follows broad weakness in the lithium industry again on Monday. It’s also worth noting that last week, Goldman Sachs put a sell rating and 14 cents price target on its shares.

Fletcher Building Ltd (ASX: FBU)

The Fletcher Building share price is down 7.5% to $3.95. This follows the release of an update on the New Zealand International Convention Centre and Hobson Street Hotel project (NZICC) and the Wellington International Airport Carpark project (WIAL Carpark). In respect to the former, the company has determined that it will make an additional provision on NZICC of NZ$165 million.

Silver Lake Resources Ltd (ASX: SLR)

The Silver Lake share price is down 13% to $1.10. Investors have not responded positively to news that the gold miner is merging with Red 5 Ltd (ASX: RED). Under the terms of the transaction, Red 5 will acquire 100% of the shares in Silver Lake and each Silver Lake shareholder will receive 3.434 Red 5 shares for every share held.

Silver Mines Ltd (ASX: SVL)

The Silver Mines share price is down 20% to 13.5 cents. This follows the completion of a placement to raise $8 million before costs. The company raised the funds at a 19.2% discount of 13.5 cents per new share. This will be used to support the development of the Bowdens Silver Project.

The post Why Core Lithium, Fletcher Building, Silver Lake, and Silver Mines shares are sinking appeared first on The Motley Fool Australia.

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• Have Core Lithium shares finally reached a bottom now?

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 Goldman Sachs Group. 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 S&P/ASX 200 Index (ASX: XJO) is well into the red on Monday.

After closing up 1.5% to notch a new all-time high 7,699.4 points on Friday, the benchmark index is down 1.1% in early afternoon trade today.

The ASX 200 is sliding today amid ongoing weakness in China’s stock markets. The CSI 300 Index (SHA: 000300) dropped 6.3% in January and closed at a loss again on Friday.

That now sees China’s benchmark stock market index down more than 17% over six months and sitting right at five-year lows.

The sell-off in Chinese stocks looks to be driven by ongoing weakness in the nation’s critical real estate sector along with broader economic malaise and increasing concerns over potential conflicts with the West.

So, should ASX 200 investors be worried about contagion from the Chinese market spreading Down Under?

Is the ASX 200 vulnerable to the sell-off in Chinese stocks?

The best answer I can give you to that question is no. At least, not yet.

While the ASX 200 and global stock markets are increasingly interconnected, there are reasons to be hopeful that the rout in Chinese stocks may be nearing its conclusion. Barring the unlikely outbreak of any significant conflict with Western powers, that is.

Over the weekend the China Securities Regulatory Commission (CSRC) reported on moves to reduce volatility in the markets. As Bloomberg reports, that includes guiding more medium and long-term funds into the CSI 300.

The CSRC will also target insider trading and “malicious” short selling.

And in good news for other international stock markets like the ASX 200, while Chinese stocks have been tanking, Chinese investors have been investing record amounts into markets outside the middle kingdom.

Bloomberg data showed inflows into Chinese exchange-traded funds (ETFs) tracking foreign benchmarks (excluding Hong Kong) hit US$2 billion (AU$3.1 billion) in January.

Helping drive the S&P 500 Index (INDEXSP: .INX) to a new all-time high, US$1.1 billion of those funds went into US stocks. Japanese stocks were the second biggest beneficiary of the cash outflows with US$204 million.

As for the ASX 200, Australian shares will make up some part of the US$667 million that went into the “other’ category.

Commenting on the billions of dollars flowing into international shares via China’s onshore ETFs, Peng Hong, fund manager at Shenzhen Zhichang Fund Management, said (quoted by Bloomberg):

Investors are voting with their feet. Chasing these funds at a high premium is risky, but it’s choosing the lesser of two evils. US stocks could see a correction taking you to ankle-deep in losses, but if you bottom fish onshore stocks, you are likely to be neck-deep.

The post Should ASX 200 investors be worried about the China stock market rout? appeared first on The Motley Fool Australia.

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More reading

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• Leading brokers name 3 ASX shares to buy today
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Motley Fool contributor Bernd Struben 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 difficult 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. Here’s why they are bullish on them:

Chalice Mining Ltd (ASX: CHN)

According to a note out of Macquarie, its analysts have retained their outperform rating on this mineral exploration company’s shares with a slashed price target of $2.00. The broker has reduced its valuation markedly to factor in future capital raisings. Nevertheless, Macquarie continues to see significant value in its shares and recommends them as a buy at current levels. The Chalice Mining share price is trading at 90 cents on Monday.

Nufarm Ltd (ASX: NUF)

A note out of Bell Potter reveals that its analysts have retained their buy rating on the agricultural chemicals company’s shares with an improved price target of $6.35. The broker is feeling positive about the company’s outlook following its annual general meeting update and recent rainfall across Australia. In addition, Bell Potter highlights that its shares are trading on lower multiples than its global peers. The Nufarm share price is fetching $5.56 this afternoon.

WiseTech Global Ltd (ASX: WTC)

Analysts at Morgan Stanley have retained their overweight rating and $85.00 price target on this logistics solutions company’s shares. The broker believes that the company’s results this month will be worth watching very closely. If WiseTech beats the market’s expectation of 30% revenue growth, it suspects that its shares could jump. Though, it also warns that softer revenue growth could mean the opposite for its shares. The WiseTech share price is trading at $76.17 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

• These are the 10 most shorted ASX shares
• Why AGL, Arcadium Lithium, Chalice Mining, and Nickel Industries shares are falling
• Here are the top 10 ASX 200 shares today
• These are the 10 most shorted ASX shares
• Are ASX growth shares back? How these fundies delivered over 20% upside in 2023

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 Macquarie Group and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group 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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