Top brokers name 3 ASX shares to buy today

The Aconex Ltd (ASX:ACX) share price is one of three that leading brokers have tipped to climb higher in the next few months. Here’s why…

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Brokers up and down Australia have been busy once again taking in new data and adjusting their discounted cash flow models accordingly.

Three shares which have fared well and been given buy ratings by brokers are listed below. Here’s why they think you should invest in these shares:

Aconex Ltd (ASX: ACX)

According to a research note out of Morgan Stanley, its analysts have reiterated their overweight rating and $5.05 price target. Analysts at the investment bank believe that the software-as-a-service company will give up margin improvements in favour of reinvesting in its future growth. They appear to believe this will drive sales growth towards the 20% per annum long-term target. Whilst Aconex’s shares are certainly expensive, I do agree with Morgan Stanley that they are a buy due to the company’s strong long-term growth potential.

Premier Investments Limited (ASX: PMV)

Analysts at Credit Suisse have retained their outperform rating on the company behind the Smiggle and Peter Alexander brands despite reducing their online profitability estimates. The investment bank has, however, lowered its price target on its shares slightly because of this. Its analysts now have a price target of $15.04, approximately 10% higher than the current share price. I’m a big fan of Premier Investments and think investors should follow Credit Suisse’s advice. Especially as its shares are a great mix of value, growth, and income.

Star Entertainment Group Ltd (ASX: SGR)

A note out of UBS reveals that its analysts have reiterated their buy rating and increased their price target on the gaming company’s shares to $6.23. The investment bank has done this in response to the Queensland government’s decision to terminate the proposed ASF integrated resort development on the Spit. By doing so, the government has reduced the likelihood of a competing casino being launched on Star’s doorstep. It’s not often that I agree with all three broker recommendations, but this time I have. Thanks to the tourism boom and this news, I feel Star could be a great option for investors.

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

*Returns as of May 24th 2021

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of ACONEX FPO and Premier Investments Limited. 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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