MENU

Brokers name 3 ASX shares to buy today

It has been another busy week of broker moves after earnings season kicked off.

Three shares that have found favour with brokers and been given buy ratings are listed below. Here’s why they are tipped to rise:

Evolution Mining Ltd (ASX: EVN)

According to a note out of Morgans, it has upgraded this gold miner’s shares to an add rating with an improved price target of $3.20. The broker made the move after Evolution achieved gold production of 801,187 ounces in FY 2018. This was at the high-end of its 750,000 to 805,000 guidance range. Morgans also appears impressed with its record low all-in sustaining costs of A$797 per ounce and its guidance for FY 2019. If I were bullish on the precious metal I would be interested in Evolution. But with rates rising quickly in the United States, I expect the gold price to come under pressure.

Lendlease Group (ASX: LLC)

A note out of Morgan Stanley reveals that it has retained its overweight rating and lifted the price target on Lendlease’s shares to $23.05. According to the note, the broker believes the international property and infrastructure group is well-positioned to deliver low-risk growth and improving returns thanks to a change in project origination, development, and funds under management growth. While it isn’t a share that I’m a huge fan of, I think Morgan Stanley makes some fair points. It could be worth a closer look at these levels.

Rio Tinto Limited (ASX: RIO)

Analysts at Citi have retailed their buy rating and $87.00 price target on this mining giant’s shares despite its first-half results coming in below expectations. While the broker has concerns over its rising costs and the impact of trade wars on Chinese growth, it was pleased with its cash generation and believes more funds could be returned to shareholders in the second-half. I would agree with Citi and think Rio Tinto could be a good option for investors looking for exposure to the resources sector. And as long as global growth remains positive, I expect the miner to generate strong cash flows and be a top dividend payer.

Finally, here are four more buy-rated shares to snap up this month.

4 Stocks for Building Wealth After 50

Renowned investor Scott Phillips just released a brand-new report detailing his 4 favourite stocks to buy right now.

And I don't know about you, but I always pay attention when some of the best investors in the world give me a stock tip.

This is your chance to get in at the very beginning of what could prove to be very special investments.

Click here to get started today!

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.

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.