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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 doing a lot of the hard work 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:

Collins Foods Ltd (ASX: CKF)

According to a note out of Morgans, it has retained its add rating and lifted the price target on this quick service restaurant operator’s shares to $6.84 after it announced plans for the rollout of the Taco Bell brand in three Australian states. The broker believes this rollout could provide Collins Foods’ growth with a boost over the medium term if it is successful. I agree with Morgans on this one and think it would be a good buy and hold option for investors.

Qantas Airways Limited (ASX: QAN)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating on this airline’s shares. The broker has, however, cut the price target on its shares to $6.70 from $7.40 due to its belief that the airline will have to increase its fuel cost guidance following a recent rise in oil prices. Despite this, though, the broker believes that Qantas’ shares are trading at an attractive entry price for investors. I agree with Credit Suisse on Qantas and think that it is still a good investment option despite the recent spike in oil prices.

Wesfarmers Ltd (ASX: WES)

Analysts at Goldman Sachs have retained their buy rating but cut the price target on the conglomerate’s shares slightly to $52.70 following the release of details around its Coles demerger. The broker appears pleased with the company’s plan to modernise Coles’ supply chain by consolidating a number of distribution centres into two new automated distribution centres in NSW and Queensland. Goldman feels this is an important step for Coles, given supply chain is currently a competitive disadvantage. While I think Goldman makes great points, I’m not a buyer of its shares at these levels and intend to wait for a better entry point.

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Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Collins Foods 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.