With so many shares to choose from on the ASX, it can be hard to decide which ones to buy.
The good news is that brokers across the country are doing a lot of the hard work for you.
Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted the price target on this baby products retailer’s shares to $5.05. This follows the release of its impressive FY 2020 full year result last week. Morgan Stanley was very pleased with Baby Bunting’s performance and particularly its online sales. It also notes that the company has started FY 2021 in a very positive fashion. This has led to the broker upgrading its earnings estimates for the coming years. I agree with Morgan Stanley and believe Baby Bunting is a quality option in the retail sector due to its dominant market position.
Flight Centre Travel Group Ltd (ASX: FLT)
Analysts at UBS have retained their buy rating but cut the price target on this travel company’s shares to $15.10. According to the note, the broker was pleased with its lower than expected cash burn during the month of July. It believes this is a sign that Flight Centre is well-placed to ride out the storm before recovering back to pre-pandemic levels at the end of FY 2023. Though, it acknowledges that things will remain tough in the near term. I think Flight Centre is a quality company but is just too high risk given current market conditions.
National Australia Bank Ltd (ASX: NAB)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $21.30 price target on this banking giant’s shares. This follows the release of NAB’s third quarter update last week. Credit Suisse appears pleased to see the bank’s housing deferrals reduce and its business deferrals remain stable over the quarter. Overall, the broker sees value in NAB shares at the current level and feels recent weakness is a buying opportunity. I agree with Credit Suisse and would be a buyer of NAB’s shares.
Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now
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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’.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group 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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