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:
HUB24 Ltd (ASX: HUB)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $13.50 price target on this specialty platform provider’s shares. The broker was pleased with HUB24’s performance in the second quarter and the solid volume trends. Furthermore, it notes that management’s pipeline commentary remains positive. HUB24 advised that transitions from incumbent platforms continue and its pipeline remains strong with net inflows from new boutique relationships and the broker channel expected during the second half. I agree and would be a buyer of HUB24’s shares at the current level.
Netwealth Group Ltd (ASX: NWL)
A note out of Citi reveals that its analysts have retained their buy rating and lifted the price target on this specialty platform provider’s shares to $9.65. According to the note, Citi thought Netwealth performed strongly during the second quarter and was pleased to see it attracting high fund flows again. It feels this is a reflection of the overall quality and strength of its platform. And although it expects pricing headwinds as competition increases, it appears confident that the risk is to the upside for its earnings guidance. I think Citi is on the money with this one.
Santos Ltd (ASX: STO)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this energy producer’s shares to $9.60. According to the note, Santos delivered a result in line with its expectations in the December quarter. Outside this, it remains bullish on its long-term production plans and feels confident it will achieve its 120 mmboe production goal by 2025. I think Macquarie makes some great points and Santos could be worth considering if you are wanting exposure to the energy sector.
The post Brokers name 3 ASX shares to buy right now appeared first on Motley Fool Australia.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Hub24 Ltd. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. 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. 2020