Leading brokers name 3 ASX shares to buy today

Many of Australia’s leading brokers have been busy adjusting their estimates and financial models accordingly to take into account recent updates and developments.

Three shares that have come out of this favourably are listed below. Here’s why they have been given buy ratings:

Kathmandu Holdings Ltd (ASX: KMD)

According to a note out of Credit Suisse, it has upgraded this retailer’s shares to an outperform rating but reduced the price target on them a touch to NZ$2.90 (A$2.72). The broker made the move after Kathmandu’s shares were sold off following its surprisingly weak trading update earlier this month. Credit Suisse believes the selloff was overdone, especially given how the Christmas trading period is not as pivotal for Kathmandu as it is for other retailers. As a result, the broker thinks its shares are trading at an attractive level given its current growth profile and strong balance sheet. I think Credit Suisse makes a great point and feel it could be worth a closer look after the pullback.

Sydney Airport Holdings Pty Ltd (ASX: SYD)

Analysts at Morgans have retained their add rating but cut the price target on this airport operator’s shares to $7.13 following last week’s traffic update. Although December’s passenger traffic data was disappointing, Morgans believes that passenger numbers will continue to grow at 2.5% on an annual basis through to FY 2020. In addition to this, it likes Sydney Airport for its defensive qualities and high quality business. I agree with Morgans and think it would be a great option for income investors.

Tabcorp Holdings Limited (ASX: TAH)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and cut the price target on the gaming company’s shares slightly to $5.10. According to the note, the broker believes the company’s shares could re-rate in the near future due to its defensive qualities and the success of its acquisitions. And while the broker is a touch cautious ahead of earnings season, it believes any share price weakness on a soft result would be a buying opportunity for investors. While it is not a share that I’m a big fan of, it could be one to watch during earnings season.

Looking for more buy ideas? Here are three more top shares tipped as buys in 2019.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Sydney Airport Holdings 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.

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