Brokers name 3 ASX shares to buy today

Brokers are bullish on these ASX shares…

| More on:
ASX shares Business man marking buy on board and underlining it

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

It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Australian Clinical Labs Ltd (ASX: ACL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and increased their price target on this pathology company’s shares to $6.60. Goldman notes that Australian Clinical Labs has upgraded its first half guidance for the fourth time thanks to strong demand for COVID-19 testing and a solid performance from its base business. The broker believes testing volumes could remain high for some time yet and expects the company to benefit greatly. The Australian Clinical Labs share price is trading at $5.81 on Thursday.

Lovisa Holdings Ltd (ASX: LOV)

A note out of UBS reveals that its analysts have initiated coverage on this fashion jewellery retailer’s shares with a buy rating and $21.25 price target. The broker likes Lovisa due to its strong position in a fragmented market. Furthermore, UBS expects the company to benefit from reopening tailwinds, operating leverage, and its store expansion. In respect to the latter, UBS sees significant room for Lovisa to expand its store network globally in the future. The Lovisa share price is fetching $19.47 this afternoon.

Rio Tinto Limited (ASX: RIO)

Analysts at Citi have retained their buy rating and $115.00 price target on this mining giant’s shares. This follows news that Rio Tinto has acquired the Rincon Lithium project in Argentina for US$825 million. Citi notes that the project has the potential to be a low cost, low carbon footprint brine project of 50ktpa LCE. The broker appears to be a fan of the move and feels it confirms Rio Tinto’s ambition to be a serious player in lithium/battery materials. The Rio Tinto share price is trading at $99.32 today.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Australian Clinical Labs Limited and Lovisa Holdings Ltd. 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

A group of friends watch the game at the pub whilst enjoying a few drinks, one girl has her hand up cheering.
Consumer Staples & Discretionary Shares

Players gonna play: 3 ASX shares set for a strong reporting season

There are some consumer activities that don't just disappear because of an economic downturn. Here are some stocks that could…

Read more »

a young farmer stands back and admires his work in arranging bales of hay to form a house shape with two bales balancing against each other to form a roof, perched on bales tipped on their side in an abstract house shape on a freshly harvested paddock.
Small Cap Shares

2 ASX shares you never heard of ready to make hay

Plummeting stock prices don't necessarily reflect the prospects of many businesses at the moment.

Read more »

a sad looking engineer or miner wearing a high visibility jacket and a hard hat stands alone with his head bowed and hand to his forehead as he speaks on a mobile telephone out front of what appears to be an on site work shed.
Resources Shares

Should investors dig the BHP share price in July?

BHP shares are sinking. Is it time to jump on the ASX mining giant?

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Healthcare Shares

Why this broker is tipping the ResMed share price to rise 17%

A leading broker says ResMed shares can rise strongly from here...

Read more »

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Broker Notes

Top brokers name 3 ASX shares to buy today

Brokers are feeling bullish about these ASX shares...

Read more »

Broker looking at the share price on his laptop.
Broker Notes

Broker upgrade fails to stop the OZ Minerals share price from falling today

The copper price has dived on fears of a looming global recession.

Read more »

Two boys in business suits holding handfuls of money
Broker Notes

2 bargain ASX shares with good times ahead: expert

Both individuals and businesses have some dark times coming. But which Australian businesses can fight through the economic downturn?

Read more »

chart showing an increasing share price
Broker Notes

Could an ‘immense’ opportunity mean the Megaport share price is now a buy?

Is Megaport a tech share to buy due to its immense growth opportunity?

Read more »