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Leading brokers name 3 ASX shares to buy today

James Mickleboro
Buy ASX shares

With so many shares to choose from on the Australian share market, it can be hard to decide which ones to buy.

The good news is that brokers across the country are doing a lot of the hard work for you.

Three top shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Flight Centre Travel Group Ltd (ASX: FLT)

According to a note out of UBS, its analysts have retained their buy rating and $50.50 price target on this travel agent’s shares following its trading update. UBS notes that Flight Centre’s guidance for the first half is in line with consensus estimates. And while it acknowledges that the coronavirus outbreak could make it hard for Flight Centre to achieve its FY 2020 guidance, the broker feels this is a short term issue and is happy with its overall performance. While I think UBS makes a good point, I’d rather wait and see how things go over the next few months before considering an investment.

News Corp (ASX: NWS)

Analysts at Credit Suisse have retained their outperform rating and lifted the price target on this media giant’s shares to $23.90 following its second quarter update. According to the note, the broker was pleased with its better than expected quarter. It was also pleased to see the company’s guidance for the second half was more positive thanks partly to its deal with Facebook. I think News Corp could be worth a closer look after its solid quarter.

Praemium Ltd (ASX: PPS)

A note out of Goldman Sachs reveals that it has held firm with its buy rating and 68 cents price target on this investment platform provider’s shares following a quick look at its half year results. According to the note, the broker felt that Praemium’s operating trends were solid during the first half. It also notes that the company’s underlying EBITDA of $7 million came in a touch ahead of its estimates. Outside this, it has previously suggested that Praemium could achieve a 49% EBITDA CAGR between FY 2019 and FY 2022. Given this, it believes its valuation is attractive relative to its earnings growth potential. I agree with Goldman and feel Praemium is worth considering at this level.

The post Leading brokers name 3 ASX shares to buy today 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 Praemium Limited. The Motley Fool Australia owns shares of and has recommended Flight Centre Travel Group Limited. The Motley Fool Australia has recommended Praemium Limited. 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