3 ASX shares brokers have named as buys

These ASX shares have been named as buys…

| More on:
Man presses green buy button and red sell button on a graph.

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

If you have room in your portfolio for some new additions, then you may want to take a closer look at the ASX shares listed below.

All three have recently been tipped as buys by brokers. Here’s what analysts are saying about them right now:

Altium Limited (ASX: ALU)

Altium is an electronic design software provider. It is best-known for its Altium Designer and Altium 365 platforms. These platforms are regarded as the best in the industry and are used by many of the world’s largest companies such as BAE Systems, Microsoft, and Tesla. Altium appears well-placed for growth over the next decade thanks to the internet of things and artificial intelligence booms. These are driving strong demand for electronic design software.

Jefferies is a big fan of Altium and has a buy rating and $48.83 price target on its shares. This is notably higher than the current Altium share price of $37.07.

REA Group Limited (ASX: REA)

REA Group is the dominant player in real estate listings in the Australian market. It looks well-placed for growth in the coming years thanks to the improving housing market, new revenue streams, acquisitions, price increases, and its international operations.

Goldman Sachs is very bullish on REA Group. Its analysts currently have a buy rating and $193.00 price target on its shares. This compares to the latest REA Group share price of $147.07.

ResMed Inc. (ASX: RMD)

ResMed is a sleep treatment-focused medical device company. Thanks to its industry-leading products, growing software business, and the increasing awareness of sleep disorders, it has been growing at a strong rate for a good number of years. Pleasingly, it still has a significant market opportunity to grow into and also looks well-placed to benefit from the shift to home healthcare.

Morgans is positive on ResMed’s outlook. The broker currently has an add rating and $40.80 price target on the company’s shares. The ResMed share price last traded at $32.66.

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 Altium. The Motley Fool Australia has recommended REA Group Limited and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Growth Shares

A man with a yellow background makes an annoncement, indicating share price changes on the ASX
Growth Shares

Experts say these ASX 200 growth shares are buys with 20%+ upside

These growth shares could be buys according to experts...

Read more »

a happy investor with a wide smile points to a graph that shows an upward trending share price
Growth Shares

3 excellent ASX growth shares that analysts are excited about

Analysts rate these growth shares very highly...

Read more »

A happy woman raises her face in celebration, indicating positive share price movement on the ASX
Growth Shares

Analysts say these ASX growth shares have huge upside potential

These growth shares could have heaps of upside...

Read more »

a graph indicating escalating results
Opinions

Where to find value in growth? Here are 2 ASX shares I’d buy in July

Both of these ASX shares could achieve good things in the future.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Growth Shares

Analysts tip big returns from these ASX growth shares

Here are two ASX growth shares analysts expect big returns from...

Read more »

happy investor, share price rise, increase, up
Growth Shares

Here’s why brokers rate these ASX growth shares as buys

Here's why these growth shares could be buys next week...

Read more »

Woman smashes dollar sign for dividend share investment
Growth Shares

2 beaten down ASX shares named as buys by experts

Here are two beaten down shares that could be buys...

Read more »

smiling man holding phone technology
Growth Shares

Analysts name 2 excellent ASX shares to buy and hold

These ASX shares could be top buy and hold options...

Read more »