MENU

Brokers name 3 ASX shares to buy today

It certainly has been a busy week for the Australian share market. A market meltdown, results releases, and annual general meetings have kept investors and brokers on their toes.

In respect to the latter, listed below are three broker notes that caught my eye. Here’s why brokers have buy ratings on these shares:

Australia and New Zealand Banking Group (ASX: ANZ)

According to a note out of Goldman Sachs, it has retained its conviction buy rating and $31.52 price target on this banking giant’s shares. Following the recent bank earnings season, ANZ Bank remains the broker’s preferred pick. This is because it believes it is best positioned to face into the sector’s slowing revenue environment due to further absolute cost reduction opportunities, potential reduction of its share count as it deploys surplus capital via buybacks, and lower bad and doubtful debt charges thanks to the structural shift of its portfolio. I agree that ANZ Bank would be a good investment if you don’t already have exposure to the bank.

Nearmap Ltd (ASX: NEA)

Analysts at Morgan Stanley have retained their overweight rating and $2.00 price target on this geospatial map company’s shares following its annual general meeting on Thursday. According to the note, the broker is pleased with the strong start to FY 2019 that Nearmap has had in Australia and the United States. All in all, Morgan Stanley believes that the company is on course to hit its FY 2019 forecasts at present. While it certainly is high risk, I do feel that Nearmap could be a great long-term investment option for investors.

Xero Limited (ASX: XRO)

Another note out of Morgan Stanley reveals that it has retained its overweight rating and $50.00 price target on this accounting software company’s shares. According to the note, the broker has looked into the company’s U.S. prospects and doesn’t believe it will be a major winner in the market. However, it doesn’t feel that it needs to be in order to justify its share price. Morgan Stanley believes that success in other international markets and the ANZ market will be enough to drive its share price higher in the medium term. I think that the broker makes a fair point on its U.S. expansion and would still consider Xero a good long-term investment option.

And here are three more buy-rated shares to consider snapping up this month.

Top 3 ASX Blue Chips To Buy For 2019

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 2019."

Each one pays a fully franked dividend. 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 owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia owns shares of Xero. 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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!