Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Afterpay Touch Group Ltd (ASX: APT)
According to a note out of Ord Minnett, its analysts have retained their buy rating and lifted the price target on this payments company’s shares to $36.50. Ord Minnett was pleased with Afterpay’s trading update and notes strong momentum in the ANZ, UK, and US markets. It also appears pleased with the company’s partnership with eBay Australia which will commence in 2020. I agree with Ord Minnett and would class its shares as a buy.
Appen Ltd (ASX: APX)
Analysts at UBS have retained their buy rating and $30.00 price target on this language technology company’s shares. According to the note, the broker was pleased with its trading update which revealed an upgrade to its FY 2019 earnings guidance. The catalyst for this has been a stronger than expected second half by the key Relevance business. UBS believes that a re-rating could be in order upon the release of its full year results. I think the broker is spot on and would also be a buyer of Appen’s shares.
Qantas Airways Limited (ASX: QAN)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this airline operator’s shares to $8.00. Macquarie notes that Qantas is aiming to increase its Domestic margins materially over the coming years. While the broker was expecting an improvement, Qantas’ targets are well ahead of its forecasts. In addition to this, the broker points out that its shares are trading at a deep discount to its international peers and offer a lot of value to investors. I would have to agree with this recommendation as well. I continue to believe Qantas is a great option for investors.
The post Top 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 AFTERPAY T FPO. The Motley Fool Australia owns shares of Appen 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. 2019