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Leading brokers name 3 ASX shares to buy today

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

The good news is that brokers across the country have been crunching the number in order to make your life easier.

Three shares that they think investors ought to be buying right now are listed below. Here’s why they are bullish on them:

Amcor Limited (ASX: AMC)

According to a note out of Deutsche Bank, its analysts have retained their buy rating and $16.65 price target on Amcor’s shares. Deutsche has noted an improved outlook for the paper and packaging sector with stable demand and improving input costs. Although there are a number of options in the packaging industry, the broker believes that Amcor is the best way to gain exposure to it. If trading conditions are improving then I feel Amcor could be worth a look. However, I’d prefer to wait to see an improvement in its performance before picking up shares.

NEXTDC Ltd (ASX: NXT)

A note out of Morgans reveals that it has an add rating and $8.15 price target on this data centre operator’s shares. The broker has also named NEXTDC as a tactical buy option due to the oversold nature of its shares and the likelihood of a share price rise in the short term. While I do agree that NEXTDC’s shares have been oversold, I wouldn’t buy its shares purely for a short term trade. I would, however, buy them with a long term view as I believe it is a great way to gain exposure to the fast-growing cloud computing market.

oOh!Media Ltd (ASX: OML)

Analysts at Credit Suisse have resumed coverage on this outdoor advertising company with an outperform rating and $5.80 price target. Credit Suisse appears to believe that the strength of the industry this year will carry over into FY 2019, putting the company in a position to continue its solid top line growth. In addition to this, although the broker doesn’t expect full cost synergies from the Adshel acquisition to be realised for a couple of year, when they are realised it expects a significant lift in earnings. I agree with Credit Suisse and think oOh!Media’s shares would be worth considering at this level.

Finally, here's another buy-rated share that I think investors ought to consider this week.

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Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has recommended oOh!Media Ltd. 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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