Leading brokers name 3 ASX shares to buy today

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

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

Allkem Ltd (ASX: AKE)

According to a note out of Citi, its analysts have retained their buy rating and $16.00 price target on this lithium miner’s shares. This follows the release of Allkem’s third quarter update, which was a touch softer than it expected. Nevertheless, with lithium prices expected to jump again during the fourth quarter, Citi remains very positive on Allkem’s outlook. The Allkem share price is trading at $13.51 today.

Bank of Queensland Limited (ASX: BOQ)

A note out of Morgans reveals that its analysts have retained their add rating and $11.00 price target on this regional bank’s shares. This follows the release of the bank’s first half results, which came in ahead of expectations thanks to one-offs. Looking ahead, the broker is positive on Bank of Queensland’s future and is expecting stronger returns on equity as cost efficiencies and synergies are realised from the ME Bank acquisition. The Bank of Queensland share price is fetching $7.95 on Tuesday afternoon.

TechnologyOne Ltd (ASX: TNE)

Analysts at Goldman Sachs have initiated coverage on this enterprise software company’s shares with a buy rating and $13.90 price target. Goldman expects TechnologyOne to meet its +A$500 million FY 2026 ARR target and even believes that the risks are skewed to the upside. It also expects the company to deliver on its target of expanding profit margins. It notes that both of these are not factored into consensus or market expectations. The TechnologyOne share price is trading at $11.00 today.

Motley Fool contributor James Mickleboro owns Allkem Limited. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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