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Top brokers have named 3 ASX shares to buy today

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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 ASX shares are in the buy zone:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Ord Minnett, its analysts have upgraded this travel company’s shares to a buy rating with an improved price target of $12.97. The broker believes the company has ample liquidity to ride out the pandemic. Which is something many of its competitors do not have. As a result, it appears to believe it could come out of the crisis in a stronger position. While I do think that Ord Minnett makes some great points, I’d prefer to wait for the crisis to pass before considering an investment in travel shares.

Elders Ltd (ASX: ELD)

Analysts at Goldman Sachs have initiated coverage on this agribusiness company’s shares with a conviction buy rating and $13.65 price target. According to the note, the broker is a fan of Elder’s 8-point plan for FY 2021 to FY 2023. This plan aims to win market share, expand its margins, and strengthen its core operations. Goldman expects this to result in a 16% compound annual growth rate for its earnings per share from FY 2019 through to FY 2022. I agree with the broker and think Elders could be worth a closer look.

Temple & Webster Group Ltd (ASX: TPW)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this online homewares retailer’s shares to $8.80. This follows the release of a full year result which was in line with its expectations earlier this week. Macquarie appears confident on the year ahead and notes that its strong balance sheet gives it opportunities to accelerate its growth with acquisitions. I think Macquarie is spot on and Temple & Webster would be worth considering.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks 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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

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 Temple & Webster Group Ltd. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Elders Limited and Temple & Webster Group 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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