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3 shares to buy for the post-Brexit rally

With the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) up 0.8% on Wednesday morning, investors need to decide whether the fall-out from the United Kingdom (UK) referendum is over and if now is the time to wade back into the market to scoop up some bargains.

Here are three stocks which hit 52-week lows yesterday that could be worth considering…

Platinum Asset Management Limited (ASX: PTM) – As a leading international fund manager, Platinum is exposed to changes in global equity market levels. However, its contrarian investment philosophy and ability to hedge its exposures means that it should actually benefit from the current market turmoil.

Sirtex Medical Limited (ASX: SRX) – As a provider of liver cancer treatment, the sell down in Sirtex’s share price is unlikely to be directly related to Brexit issues, however, the weak share price could still be a buying opportunity.

Computershare Limited (ASX: CPU) – Parts of Computershare’s business are directly related to the UK economy and so Brexit is likely to have some consequences for the group. Despite this exposure, the group remains a significant player globally in registry, data management, and transaction processing services.

Foolish takeaway

Investing should be about taking a long term view regarding the expected earnings outlook for a business. Brexit is a near term issue which could have some long term consequences for the UK economy. Meanwhile, the long term earnings potential of Platinum, Sirtex and Computershare is unlikely to be unduly influenced by Brexit. The long-term value of these three companies will however be determined by company-specific strategic decisions and sector-specific issues.

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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Motley Fool contributor Tim McArthur has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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