Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

| More on:
Broker written in white with a man drawing a yellow underline.

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 and recommendations again. This has led to the release of a number of broker notes this week.

Three ASX shares that brokers have named as buys this week are listed below. Here's why their analysts are feeling bullish on them right now:

Coles Group Ltd (ASX: COL)

According to a note out of Morgans, its analysts have retained their add rating on this supermarket giant's shares with an improved price target of $18.95. This follows the release of a third quarter sales update which was ahead of the broker's expectations. Morgans had been expecting supermarket comparable sales growth of 3.5% for the period. However, Coles bettered that with 4.2% growth. And while cost inflation is likely to be a headwind, the broker is optimistic that this will be offset by its cost reduction program. In light of this, Morgans remains very positive and sees a lot of value in its shares. The Coles share price is trading at $16.40 on Wednesday afternoon.

Coronado Global Resources Inc (ASX: CRN)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this coal miner's shares with a trimmed price target of $1.55. This follows the release of a weaker-than-expected first-quarter update. Goldman was disappointed with the update and has downgraded its earnings estimates materially. However, it still sees significant value in its shares at current levels. The broker highlights that it is trading at just 0.65x NAV, which it feels is too cheap. Especially given its expectation for an operational turnaround and improving free cash flow in 2025. The Coronado Global Resources share price is fetching $1.15 today.

Liontown Resources Ltd (ASX: LTR)

Analysts at Bell Potter have retained their speculative buy rating on this lithium developer's shares with a trimmed price target of $1.85. This follows the release of the company's quarterly update this week. Bell Potter has been pleased with the development progress of the Kathleen Valley Lithium Project. It notes that it is on track (and budget) to commence production in the middle of the year. In addition, it was pleased to see management reiterating that the recently announced $550 million debt package will see the project into production, ramp-up, and positive cash flow. Outside this, the broker highlights that Kathleen Valley remains highly strategic in terms of its stage of development, long mine life, and location. The Liontown Resources share price is trading at $1.22 this 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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Coles Group. 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

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Broker Notes

Morgans says these ASX stocks can rise 20% (and pay big dividends!)

The broker believes some very big returns could be on the cards over the next 12 months.

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

happy investor, share price rise, increase, up
Broker Notes

These ASX 200 shares could rise 15% to 50%

Analysts think these shares can rise strongly from where they trade today.

Read more »

a man peers through a broken brick wall to see grey clouds gathering beyond it
Share Market News

Why this smashed ASX 200 share is a fundie's top value pick

It's an ASX consumer discretionary stock that has lost 40% of its value over the past year.

Read more »

Happy man working on his laptop.
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Resources Shares

Up 51% from their 52-week low, is it too late to buy Mineral Resources shares?

Mineral Resources has been on a tear since mid-January. Do these top brokers think it's too late to buy?

Read more »

A laughing woman pushes her friend, who has her arms outstretched, in a supermarket trolley.
Retail Shares

Goldman says these 6 ASX retail shares are a buying opportunity

The latest retail trading data was historically weak, according to the Australian Bureau of Statistics.

Read more »

Research, collaboration and doctors working digital tablet, analysis and discussion of innovation cancer treatment. Healthcare, teamwork and planning by experts sharing idea and strategy for surgery.
Healthcare Shares

Buy, hold or sell these 3 ASX 200 healthcare shares: Experts

These experts reveal their calls on CSL, Resmed and Sonic Healthcare shares today.

Read more »