The three ASX shares I'm going to mention in this article are rated as 'buys' by several brokers.
It's quite hard to find businesses that are both good businesses and trading at a good price. Even then, one person might say Commonwealth Bank of Australia (ASX: CBA) and another says that Transurban Group (ASX: TCL) is a better choice.
Investment site MarketIndex regularly collates the ratings of brokers together to assess what the broker community collectively think are opportunities. Of course, this still isn't a guarantee of success – they could all be herding together.
With that in mind, here are three ASX shares that brokers like:
Webjet Limited (ASX: WEB)
The travel operator business is rated as a buy by at least six brokers. The company had an impressive half-year result of total transaction value (TTV) growth of 29%, revenue growth of 33%, earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 42% and net profit after tax (NPAT) (before acquisition amortisation) growth of 61%.
I think the full year result is going to be impressive too and the fall in the share price since the end of February makes it look attractive to me, particularly as Webjet unveils more growth initiatives.
Reece Ltd (ASX: REH)
There are three brokers who think Reece is a buy. I'm always on the lookout for businesses which have market-leading positions in Australia with overseas growth potential, which perfectly describes Reece.
The declining outlook for property construction has sent the Reece share price down around 16% over the past year. But I like its growth prospects in the US where it has such a large total addressable market.
Bapcor Ltd (ASX: BAP)
The auto parts business is rated as a buy by seven brokers. Bapcor is another that has strong market-leading positions in various categories in Australia with growing profit margins and increasing its store network size for its different subsidiaries.
What I'm excited by with Bapcor is the potential for long-term growth in Asia. It's a much bigger region than Australia, so it could seriously increase Bapcor's bottom line if it goes well. But sadly there's no guarantee of that.
Foolish takeaway
Of the three shares above I would prefer to invest in Webjet. It's going much faster than the other two, is mostly an online-only business (with good profit margins) and it's investing in other growth areas. It's a good combination.
