Top brokers name 3 ASX shares to buy today

Brokers are feeling bullish about 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

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 ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Appen Ltd (ASX: APX)

According to a note out of Citi, its analysts have retained their buy rating but cut their price target on this artificial intelligence data services company’s shares to $14.80. Citi notes that Appen has not provided the market with a trading update, which it believes could be interpreted as a sign that the company has achieved its guidance in FY 2021. In light of this, it suspects that market consensus estimates could be too low. The Appen share price is trading at $10.18 this afternoon.

Harvey Norman Holdings Limited (ASX: HVN)

A note out of Credit Suisse reveals that its analysts have upgraded this retail giant’s shares to an outperform rating with a $5.62 price target. This broker believes Harvey Norman is benefitting from strong demand for household goods following recent industry updates. In light of this, it has updated its estimates and believes this makes its shares good value at the current levels. The Harvey Norman share price is fetching $5.25 today.

JB Hi-Fi Limited (ASX: JBH)

Analysts at Morgans have retained their add rating and lifted their price target on this retailer’s shares to $57.00. The broker notes that JB Hi-Fi’s half year trading update was significantly better than it was expecting. This has led to Morgans upgrading its sales and earnings estimates for the full year. Overall its analysts believe the combination of a strong market position, heightened customer demand, and good cost control make its shares inexpensive at current multiples. The JB Hi-Fi share price is trading at $49.63.

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. owns and has recommended Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd and Harvey Norman 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

digital screen of bar chart representing asx tech shares
Technology Shares

Broker names 3 of the best ASX tech share to buy in FY23

These tech shares could be buys in FY 2023...

Read more »

a man wearing a hard hat and a high visibility vest stands with his arms crossed in front of heavy equipment at a mine site.
Broker Notes

Should investors dig the Fortescue share price in July?

Fortescue is suffering in the sell-off. Will things get better in July?

Read more »

3 asx shares to buy depicted by man holding up hand with 3 fingers up
Broker Notes

Broker names 3 of the best ASX shares to buy in July

These three ASX shares are highly rated this month...

Read more »

A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks
Broker Notes

Brokers name 3 ASX shares to buy today

Brokers are bullish on these ASX shares...

Read more »

Three different hands against a blue backdrop signal thumbs up, indicating share price rise on the ASX market
Technology Shares

Why this top broker just slapped a buy rating on Xero shares

Xero shares could be great value according to Morgans...

Read more »

A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer
Broker Notes

Top broker names 3 of the best ASX 200 shares to buy in FY23

These ASX 200 shares have been named as some of the best shares to buy in FY 2023...

Read more »

a woman sits in comtemplation with superimposed images of piles of gold coins, graphs and star-like lights above her head as though she is thinking about investment options.
Broker Notes

2 ASX 200 shares with enough pricing power to battle inflation: Expert

An expert has tipped Transurban and Resmed shares as potential inflation safe havens.

Read more »

A woman sets flowers on a side table in a beautifully furnished bedroom.
Broker Notes

Is the Adairs share price outlook brightening for July?

Should investors make a home for Adairs shares in their portfolio in July?

Read more »