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Top brokers name 3 ASX 200 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 broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these S&P/ASX 200 Index (ASX: XJO) are in the buy zone:

InvoCare Limited (ASX: IVC)

According to a note out of Citi, its analysts have upgraded this funerals company’s shares to a buy rating with a trimmed price target of $13.50. Although the broker notes that InvoCare is being impacted by social distancing measures and has downgraded its earnings forecasts to reflect this, it still sees a lot of value in its shares. Whilst I think Citi makes some good points, I would like to see the coronavirus crisis pass before considering an investment.

Macquarie Group Ltd (ASX: MQG)

Analysts at Ord Minnett have upgraded this investment bank’s shares to a buy rating with a lowered price target of $112.00. According to the note, the broker believes the pullback in its share price over the last six weeks has been severely overdone. And while it has reduced its earnings forecasts to account for coronavirus disruption, it thinks the share price weakness is a buying opportunity for investors. I agree with Ord Minnett and feel Macquarie could prove to be a great option for investors at the current level.

Woodside Petroleum Limited (ASX: WPL)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but trimmed the price target on this energy producer’s shares to $24.00. According to the note, the broker has been looking through the energy sector and concludes that Woodside is one of the best large cap options for investors following recent selloffs. Prior to today, the company’s shares were down over 50% from their 52-week high. Macquarie sees this as a buying opportunity for investors. I think it could be worth taking a closer look at Woodside at the current level.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended InvoCare 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.

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