There are a lot of ASX shares out there for investors to choose from.
To narrow things down, let's take a look at three ASX shares that the team at Macquarie Group Ltd (ASX: MQG) is bullish on this month.
Here's what the broker is recommending to clients and why it thinks these shares could be in the buy zone right now:
Image source: Getty Images
Jumbo Interactive Ltd (ASX: JIN)
The team at Macquarie is bullish on this lottery ticket seller and has named it as an ASX share to buy.
It has an outperform rating and $13.90 price target on its shares.
The broker believes that the company's shares could re-rate to higher multiples once it proves that its market share losses are over. It said:
Jumbo has materially de-rated since the 1H25 result, trading at a 40% discount to the ASX 300 Industrials, its widest since 2017, impacted by market share losses within Australian lottery retailing largely attributable to product mix (jackpot driven, and has sequentially improved in 2H25) and marketing spend (addressed with increased budget, and management messaging suggests improving trends in 2H25). For Jumbo, we see market share as a key re-rating catalyst at the FY25 result.
Universal Store Holdings Ltd (ASX: UNI)
Macquarie also thinks that this youth fashion retailer is an ASX share to buy now. It currently has an outperform rating and $9.80 price target on its shares.
The broker has been impressed with the company's performance in a tough consumer market and believes further market share gains are likely in the future. It said:
Strong sales growth in 1H25, continuing into 2H25, with GM% expansion YoY and private label continuing to increase. UNI continues to win market share, with ongoing store roll-out supporting network sales growth.
WEB Travel Group (ASX: WEB)
Finally, Macquarie is feeling bullish about this travel technology company and sees plenty of value in its shares. Especially now its margin weakness appears under control.
It currently has an outperform rating and $6.19 price target on its shares. The broker said:
Revenue margin outlook stabilising. We have increased confidence in WEBs medium-term revenue margin guidance for 6.5%. The headwind of faster TTV growth in lower-margin regions should be offset by 1) resolved company driven headwinds (e.g. overrides, European summer pricing, and mgmt focus post demerger); 2) optimisation of customer mix; and 3) increased direct contracting. We expect WEB's % of directly contracted inventory should track back towards its 60% target in FY26, given headcount investments.
