MENU

Top brokers name 3 ASX shares to buy today

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Credit Suisse, its analysts have upgraded this iron ore producer’s shares to an outperform rating with an increased price target of $8.20. The broker made the move after lifting its iron ore price forecasts considerably over the next couple of years. The broker also appears pleased at the company’s decision to declare a 60 cents per share dividend this week given the potential changes to franking credits following the upcoming Federal election. Whilst I am a fan of Fortescue, I would prefer to gain exposure to iron ore through a more diversified miner.

IDP Education Ltd (ASX: IEL)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this international student placement services company’s shares to $17.50. According to the note, the broker believes IDP Education’s digital strategy could disrupt the global student recruitment market and drive strong long term growth. This has yet to be reflected in its share price according to Macquarie, potentially making now an opportune time to snap up shares. I agree with Macquarie on IDP Education and think it would be a great long-term investment.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Another note out of Credit Suisse reveals that its analysts have retained their outperform rating on this plumbing parts company, albeit with a trimmed price target of $4.40. According to the note, the broker remains positive on the outlook for Reliance Worldwide despite this week’s earnings downgrade, which it estimates to be partly down to non-recurring items. Whilst the company’s update was very disappointing, I do see a lot of value in its shares at this level and would agree with Credit Suisse that it is a buy.

And here are five more buy-rated shares that are not to be missed. Especially at their dirt cheap prices...

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

Stock #1 is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Stock #2 is another high-growth business trading near a 52-week low all while offering a 4.7% grossed-up yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK 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 Reliance Worldwide Limited. The Motley Fool Australia has recommended Reliance Worldwide 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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now