Top brokers name 3 ASX shares to buy today

Brokers are feeling bullish about these ASX shares…

| More on:
Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today

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:

Altium Limited (ASX: ALU)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating but cut their price target on this electronic design software company’s shares to $35.00. Morgan Stanley believes that Altium could be benefiting from global supply chain difficulties and chip shortages. This is because it suspects that its software is experiencing high demand from designers repurposing chips and its Octopart search engine is being used to source parts. The Altium share price is trading at $28.55 on Wednesday.

BHP Group Ltd (ASX: BHP)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this mining giant’s shares to $50.00. Citi has been looking over BHP following the demerger of its petroleum business. It feels there could be opportunities to unlock further value with another demerger. This would see BHP split into Bulks and Metals (inc. potash). The BHP share price is fetching $45.65 today.

Wesfarmers Ltd (ASX: WES)

Analysts have retained their buy rating and $56.00 price target on this conglomerate’s shares. According to the note, the broker has been impressed with the company’s new $80 million Bunnings Pymble store. It believes this store’s unique design should be able to capitalise on the trade segment and extend its addressable market. And while changing purchasing patterns takes time, it feels that a larger presence in an attractive demographic is a good start. The Wesfarmers share price is trading at $47.58 on Wednesday afternoon.

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 positions in and has recommended Altium. The Motley Fool Australia has positions in and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

Young woman using computer laptop with hand on chin thinking about question, pensive expression.
Broker Notes

Is the Beach Energy share price a buy following its post-reporting sell-off?

Are brokers still optimistic after slamming the company's earnings and guidance? We take a look.

Read more »

A man in his office leans back in his chair with his hands behind his head looking out his window at the city, sitting back and relaxed, confident in his ASX share investments for the long term.
Broker Notes

Why this broker sees plenty of upside for the ResMed share price

ResMed shares could be in the buy zone...

Read more »

A man in a suit smiles at the yellow piggy bank he holds in his hand.
Bank Shares

Is the Westpac share price a buy following the bank’s latest update?

Are Westpac shares a buy after its latest update?

Read more »

A mle runner is in an awkward pose as the approaches an unever part of a running track through a forest with tall trees and sunlight shining through them.
Investing Strategies

‘Strong growth’: Expert names 2 ASX shares to buy for the long run

In a turbulent year like 2022, sometimes you just have to take a step back to find companies that have…

Read more »

A male investor wearing a white shirt and blue suit jacket sits at his desk looking at his laptop with his hands to his chin, waiting in anticipation.
Broker Notes

Why one broker is bullish on this ‘unloved and undervalued’ ASX 200 share

The company is due to release it earning results tomorrow.

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers rate these ASX shares as buys...

Read more »

Four businessmen in suits pose together in a martial arts style pose as if ready to engage in competition or spring into a fight.
Broker Notes

Is this ASX bank share a better buy than the big four banks?

One alternative bank share might be looking too cheap to ignore.

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Resources Shares

Is the Santos share price a buy following the energy giant’s latest acquisition?

Santos has slipped, should investors seize the opportunity?

Read more »