MENU

Leading brokers name 3 ASX shares to buy today

With a number of companies reporting updates and holding their annual general meetings this month, brokers up and down Australia have been busy adjusting their financial models and ratings for many leading companies.

Three shares which came out favourably are listed below. Here’s why leading brokers think they are in the buy zone:

Macquarie Group Ltd (ASX: MQG)

According to a note out of Credit Suisse, its analysts have upgraded the investment bank’s shares to an outperform rating and increased their price target to $105.00. The broker appears to be impressed with Macquarie’s improved profitability and balance sheet. I would agree with Credit Suisse on this one. The stars certainly seem to be aligning for Macquarie at the moment and it could prove to be one of the best investments in the industry.

Orocobre Limited (ASX: ORE)

A note out of Citi reveals that its analysts have upgraded the lithium miner to a buy rating with an increased price target of $5.50. Although its recent quarterly update was a little weaker than the broker expected, it has overlooked this due to its improved cash margins and balance sheet. While I am a fan of Orocobre, I’d prefer to buy in at a cheaper price. In light of this, I would class it as a hold.

ResMed Inc. (CHESS) (ASX: RMD)

Analysts at UBS have retained their buy rating and increased the price target on the sleep treatment company’s US-listed shares to US$90.00. Based on the current exchange rate and the 10:1 ratio, I estimate this to be the equivalent of an $11.73 price target for its Australian shares. I was once again impressed with ResMed’s quarter and believe it has all the hallmarks of a great buy and hold investment option.

Finally, here are three more top shares which I think could be considered as strong buys right now.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any of the 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.