Brokers name 3 ASX shares to buy today

NEXTDC Ltd (ASX:NXT) shares are one of three that brokers have named as buys this week. Here's why…

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It has been a very busy week filled with countless result releases and corporate news.

As you might expect, this has led to brokers working overtime on their discounted cash flow models and recommendations.

Three shares that have fared well and been given buy ratings are listed below. Here's why brokers are bullish on them:

BINGO Industries Ltd (ASX: BIN)

According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and increased the price target on this waste management company's shares to $2.00 after the ACCC advised that it would not oppose its acquisition of Dial a Dump Industries. The broker is pleased with this news and expects the acquired business to diversify its revenue and provide it with long term growth opportunities. I agree with this view and believe BINGO would be a good buy and hold option for investors at current levels.

Harvey Norman Holdings Limited (ASX: HVN)

Analysts at Deutsche Bank have retained their buy rating and $4.60 price target on this retailer's shares following the release of its first half results. According to the note, the broker believes that the impact of housing market weakness is starting to show in the company's domestic results and has concerns that things could still get worse. However, thanks to the strong performance of its international businesses the broker believes that profits will continue to grow. Whilst I'm not a buyer of its shares, I was impressed with the performance of its international businesses and agree that they could offset the weakness in its local operations.

NEXTDC Ltd (ASX: NXT)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating but cut the price target on this data centre operator's shares slightly to $7.75. According to the note, NEXTDC's half year results were in line with its expectations. In addition to this, the broker was pleased with its pricing and the strong growth in cross-connects. Overall, with the key drivers of the company intact, Goldman sees the post-result share price weakness as an opportunity to invest in a high quality company. Whilst it is a high risk option due to the premium its shares trade at, I agree with Goldman Sachs that it is a great investment option.

Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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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