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Top brokers name 3 ASX shares to buy today

With so many quality shares to choose from in the Australian share market it can be hard to decide which ones to buy.

The good news is that brokers across Australia have done the hard work to make life easier for investors.

Here are three shares that have been given buy ratings today:

JB Hi-Fi Limited (ASX: JBH)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $32.00 price target on the retailer’s shares. The broker has held firm with its recommendation despite the company’s disappointing trading update yesterday which revealed a surprise profit guidance downgrade. Morgan Stanley appears to have seen enough in the JB Hi-Fi brand’s solid performance to continue recommending it as a buy. While I agree that the JB-Fi brand performed well, I was alarmed by the Good Guys’ poor performance and I’m concerned this isn’t a one of. I intend to stay clear of the company’s shares.

Qantas Airways Limited (ASX: QAN)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted the price target on the airline’s shares to $7.15 from $6.90. According to the note, the broker was pleased with its strong performance in the March quarter and is confident that Qantas will be able to offset higher fuel costs in FY 2019. I would have to agree with Credit Suisse on this one and think Qantas is a great option for investors after yesterday’s update.

Woolworths Group Ltd (ASX: WOW)

Analysts at UBS have retained their buy rating and increased the price target on the retail conglomerate’s shares to $30.00 from $28.90. According to the note, Woolworths’ sales update for the March quarter was stronger than the broker expected. Furthermore, UBS believes that the outlook in the grocery category is improving and there are signs that price deflation is easing. While I’m not a huge fan of Woolworths, I do think it is starting to look attractive again now the outlook for its supermarket business is improving.

Looking for more buy ideas? Here are three buy-rated blue chip shares to snap up in May.

Top 3 Buy-Rated Blue Chips To Buy In May

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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%.

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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 Scott Phillips.

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