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Brokers name 3 ASX shares to buy today

James Mickleboro
Buy ASX shares

A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.

Three shares that are in favour with brokers and have been given a buy rating are listed below. Here’s why they are bullish on them:

Corporate Travel Management Ltd (ASX: CTD)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $31.00 price target on this corporate travel specialist’s shares. The broker believes that Corporate Travel Management can achieve its FY 2020 earnings guidance following its annual general meeting update. Especially with its European business performing better than expected and the Asia and ANZ businesses in line with expectations. Whilst I’m not a fan of investing in shares that short sellers are openly targeting, I think it is worth considering a small investment in this one.

National Australia Bank Ltd (ASX: NAB)

Analysts at Citi have retained their buy rating and $30.50 price target on this banking giant’s shares following its full year result. According to the note, the broker believes that NAB delivered the strongest result out of the big four in FY 2019. In addition to this, it likes NAB due to its high return on equity, which it expects to be strong in the new financial year. Further, it expects this to support a dividend of $1.66 per share over the next two years. This equates to a yield of 5.8% based on today’s price. I agree with Citi and would be a buyer of NAB’s shares.

Xero Limited (ASX: XRO)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this accounting software company’s shares to $83.50. According to the note, its analysts were happy with its performance in the first half of FY 2020. And while it is a touch cautious about it second half due to the strong comparable period, it remains bullish on its long term growth prospects. I agree with Macquarie and think Xero would be a great buy and hold option for investors.

The post Brokers name 3 ASX shares to buy today appeared first on Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia owns shares of National Australia Bank Limited and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019