Leading brokers picked these 2 ASX stocks to buy today

Is there no stopping the market? The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index hit a fresh 11-year high but there are two stocks that stand out amid today's rally.

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The market is bouncing back from its sluggish start as the bulls showed who's in charge by pushing the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index to fresh 11-year highs.

Is there no stopping this market advance? It seems that worries about overstretched valuations and trade war-induced recessions aren't enough to quash risk appetite – not when investors are getting drunk on the cheap liquidity (actual or anticipated) that the world's central banks are bringing to the party.

I am bracing for when the music stops as I don't want to be the last guy leaving the party, dateless no less, but while the band is playing some might be tempted to jump on this happy bandwagon.

On that ebullient note, here are the two latest "buy" ideas from leading brokers.

Fuelling the buying party

The one that stands out today is the Senex Energy Ltd (ASX: SXY) share price, which surged 10.5% to 32 cents after Credit Suisse upgraded the stock to "outperform" from "neutral" following the energy company's announcement yesterday that it struck a $50 million deal to sell its Roma North processing facility to Jemena and enter a gas tolling agreement.

"We now see SXY as resilient to sub-A$50/bbl oil prices under our base case capex assumptions. FY20 earnings are ~7.5% lower to account for toll," said Credit Suisse, which has a 37 cents price target on the stock.

"We note there has been some concern in the market about potential need for Senex to do capital raising. Our numbers suggest this is unlikely to be an issue, and the sale and toll-back should offer further balance sheet support to alleviate the capital raising concern some may have."

Putting this stock on the map

Another stock that's topping the leader board is the Nearmap Ltd (ASX: NEA) share price as it jumped 7.3% to $3.96 after Macquarie Group Ltd (ASX: MQG) initiated coverage on the stock with an "outperform" rating and $4.22 price target.

Nearmap's camera technology allows it to capture high-quality aerial photographs for mapping/planning applications and its subscription pricing gives it a desirable recurring revenue stream.

"The aggregate market opportunity equates to >A$3.0bn p.a. in NEA's existing markets. Australia, NEA's original & most mature market, has achieved ~17% penetration, but the key US growth opportunity remains largely untapped (~1% penetration)," said the broker.

"Following an initial investment /capture phase (~3yrs), our analysis suggests the US has reached an inflection point."

These aren't the only stocks to put on your watchlist. The experts at the Motley Fool have uncovered another group of ASX stocks that are well placed to outperform. Follow the link below to find out more.

Brendon Lau owns shares of Macquarie Group Limited. Connect with him on Twitter @brenlau.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Macquarie Group Limited and Nearmap Ltd. 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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