MENU

Brokers name 3 ASX shares to buy today

The end of earnings season may be within sight, but the results continue to come in thick and fast.

This has kept brokers busy this week and led to the release of countless broker notes.

Three buy ratings that caught my eye today are listed below:

ARB Corporation Limited (ASX: ARB)

Analysts at Macquarie have retained their outperform rating but cut the price target on this four-wheel drive vehicle accessories company’s shares slightly to $23.50 following the release of its full year results on Wednesday. Although those results came in a little below the broker’s estimates, it still felt ARB delivered a strong result nonetheless. Macquarie continues to believe that ARB is a quality business and has forecast the company to deliver robust growth in the medium term. I agree with Macquarie on ARB and see it as a great buy and hold investment option.

IDP Education Ltd (ASX: IEL)

According to a note out of Morgan Stanley, it has retained its overweight rating and lifted the price target on IDP Education’s shares to $11.00 after the provider of international student placement and English language testing services released its full year results yesterday. Morgan Stanley liked what it saw and believes the market doesn’t appreciate the company’s strong growth prospects. While I do agree with the broker on IDP Education, due to its shares changing hands at a significant premium to the market average, I intend to hold off investing until there’s clearer guidance on the year ahead.

Qantas Airways Limited (ASX: QAN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $7.24 price target on the airline’s shares after its full year results release on Thursday. The broker appeared to be particularly pleased with the Qantas Domestic result and management’s upbeat commentary regarding FY 2019 and its ability to recover the $690 million increase in fuel costs. While fuel costs are a headwind, Goldman believes the quality and diversity of its portfolio not only provides greater earnings and cash flow stability, but more fleet and scheduling options to underpin profitable growth going forward. I agree with Goldman on Qantas and think investors ought to take a closer look at the airline.

Looking for more ideas? Here are three more buy rated shares to consider.

Top 3 ASX Blue Chips To Buy In 2018

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 2018."

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 recommended ARB 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 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.