The Motley Fool

Leading brokers name 3 ASX shares to buy today

With so many 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 are doing a lot of the hard work for you.

Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and lifted the price target on this iron ore producer’s shares to $8.70 following the release of its quarterly update. The broker was pleased with Fortescue’s shipments during the quarter and notes that it is on track to achieve its full year guidance. Overall, the broker believes there is significant upside risk to earnings thanks to high iron ore prices. Whilst I do like Fortescue, I feel its shares are about fair value now.

HUB24 Ltd (ASX: HUB)

Analysts at Goldman Sachs have retained their buy rating and increased the price target on this investment platform provider’s shares to $15.90. According to the note, Goldman has upgraded its net inflow assumptions after HUB24’s stronger than expected third quarter update. In addition to this, the broker remains confident of further growth thanks to solid momentum in new client wins. Finally, the broker notes that its revenue margin softness is reflective of transition inflows, not repricing by competitors. I agree with Goldman Sachs on HUB24 and would also class its shares as a buy.

Megaport Ltd (ASX: MP1)

A note out of UBS reveals that its analysts have retained their buy rating and lifted the price target on the shares of the provider of elasticity connectivity and network services to $6.25. According to the note, the broker was pleased with Megaport’s quarterly update and believes that further acceleration in its growth is possible in the June quarter and beyond. Although its shares are looking a little expensive now, I believe they could be a good long-term investment option.

And here are three more ASX shares that have been rated as buys this month.

Our Top 3 Blue Chip Shares for 2019 – NOW AVAILABLE!

You’re invited! For a limited time, The Motley Fool Australia is giving away an urgent new investment report detailing our 3 TOP BLUE CHIP SHARES to own in 2019.

So if you like trustworthy, stable, high-performing companies that pay fat fully franked dividends – we’ve got you covered!

Stock #1 is a beloved old Australian company turning its attention to high-margin businesses... and rapidly returning cash to shareholders with its hefty dividend...

While Stock #2 is an online powerhouse that’s rapidly gaining market share all around the globe... poised for years (or even decades) of tremendous growth...

Even better, Stock #3 offers a whopping 6.5% grossed-up dividend! Which beats the rates on term deposits right out of the water – and offers the potential for capital gains, too.

You can discover all three shares inside our new report right now. To scoop up your FREE copy, simply click the link below right now. But you will want to hurry – this free report is available for a LIMITED TIME ONLY!

SimplyCLICK HERE FOR YOUR FREE REPORT!

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd and MEGAPORT FPO. The Motley Fool Australia has recommended Hub24 Ltd and MEGAPORT FPO. 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.

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here’s the best part: we think there’s one ASX stock that’s uniquely positioned to profit immensely from this explosive new industry… taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more