Leading brokers name 3 ASX shares to buy today

There certainly is a lot of quality shares to choose from on the Australian share market.

This can make it hard to decide which ones to buy. Luckily, to make your life easier brokers across Australia are doing a lot of the hard work so you don’t have to.

Three shares they are recommending as buys this week are listed below. Here’s why they like them:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and lifted the price target on the gaming technology company’s shares to $27.15. The broker made the move after a recent slot machine survey backed up Macquarie’s belief that Aristocrat Leisure was experiencing positive momentum in North America. This echoes what a recent survey by Goldman Sachs found and is yet another reason why I think investors ought to consider an investment in this fast-growing company.

Galaxy Resources Limited (ASX: GXY)

A note out of Citi reveals that its analysts have retained their buy (high risk) rating but cut the price target on the lithium miner’s shares to $4.50 following the release of its quarterly production update on Monday. The broker thought Galaxy delivered a weak quarter and has pointed to its lower feed grades as being the cause. It was pleased to see the company finish the quarter with a strong cash balance and no debt, however. I think that Galaxy is the best option for investors wanting exposure to the lithium industry. But considering the recent weakness in lithium prices industry-wide, I am concerned that Galaxy could see a sizeable decline in its realised prices over the coming years if the trend continues. Because of this, I will be considering whether to take some profit off the table following its stellar run since the middle of last year.

Santos Ltd (ASX: STO)

Analysts at Credit Suisse have retained their outperform rating and $6.35 price target on the energy company’s shares. Although Santos’ recent quarterly update revealed soft production in the March quarter and a downgrade to its guidance, this had been expected by the broker. Speculation that the company could be a takeover target for Total and Quadrant Private Equity has also been noted by the broker. While I think Santos is a great company and a decent option for investors, I wouldn’t recommend buying its shares purely on takeover speculation.

Instead, I would be buying up the shares of these tech stars.

3 Buy Rated Tech Shares to Back for 2018

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That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro owns shares of Galaxy Resources Limited. 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 Scott Phillips.

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