Brokers name 3 ASX shares to buy now

Here's what brokers think of these ASX shares…

| More on:
asx buy

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Australia's top brokers have been busy adjusting their estimates and recommendations once again. This has led to the release of a number of broker notes.

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:

Altium Limited (ASX: ALU)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this electronic design software company's shares to $42.00. This follows news that Altium has rejected a $38.50 takeover approach from Autodesk. The broker believes the offer demonstrates the company's ability to attract strategic partnerships. It also isn't ruling out Autodesk coming back with a higher offer in the future to seal a deal. The Altium share price is fetching $35.47 this afternoon.

BHP Group Ltd (ASX: BHP)

A note out of Macquarie reveals that its analysts have retained their outperform rating and increased their price target on this mining giant's shares to $61.00. According to the note, the broker made the move after increasing its earnings estimates to reflect sky high iron ore prices. Macquarie also notes that BHP stands to benefit from improving metallurgical coal prices. The BHP share price is trading at $48.74 today.

IDP Education Ltd (ASX: IEL)

Analysts at UBS have retained their buy rating but trimmed their price target on this language testing and student placement company's shares to $28.25. According to the note, the broker is expecting COVID-19 headwinds in the key Indian market to weigh on its short term performance. It estimates that the Indian market accounts for 34% of its revenue. However, UBS anticipates a swift recovery once the crisis passes. Looking further ahead, the broker expects IDP Education to be in a stronger market position post-pandemic. The IDP Education share price is fetching $22.50 today.

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 and has recommended Altium and Idp Education Pty Ltd. The Motley Fool Australia owns shares of and has recommended Altium. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Broker Notes

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

Broker looking at the share price.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Broker Notes

Guess which ASX 200 share offers 12% upside and a 4% dividend yield

Bell Potter just slapped a buy rating on this stock.

Read more »

A man leaps from a stack of gold coins to the next, each one higher than the last.
Broker Notes

Qantas or Telstra share price: Which will climb higher in 2024?

Let's see what top broker Goldman Sachs has to say about these ASX blue-chip stocks.

Read more »

A woman smiles as she sits on the bus using her phone and listening to music through headphones.
Small Cap Shares

3 small-cap ASX shares with 'long runways for growth'

DNR's Sam Twidale reckons investors could do worse than buy these guys for the long run.

Read more »

Woman using laptop for job search
Investing Strategies

2 ASX 200 shares to buy for 'strong growth' at decent prices right now

Searching for a bargain? Here's a pair that Catapult's Dylan Evans has his eyes on at the moment.

Read more »

A Paladin Energy miner wearing a hard hat and protective gear stands in front of a large mining truck and smiles to the camera.
Energy Shares

Uranium is set to boom, and this is the 'premium' ASX stock to buy

Shaw and Partners' Jed Richards reckons these are the shares to buy for the nuclear energy theme.

Read more »

female in hard hat crosses fingers
Investing Strategies

The ASX 200 stock that could get second time lucky

These shares have failed to impress in 2024, but many experts believe it's a bargain buy.

Read more »