Australia Markets closed

Top brokers name 3 ASX shares to buy today

James Mickleboro
Financial data graph

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:

Lendlease Group (ASX: LLC)

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and lifted the price target on this international property company’s shares by 14% to $19.37. The increase in its price target is due to a change in valuation method to a sum of the parts valuation. It believes this is a more accurate representation of Lendlease’s underlying value. The broker also previously spoke positively about its growth potential thanks to its development pipeline. I agree with Goldman on Lendlease and would be a buyer of its shares.

Northern Star Resources Ltd (ASX: NST)

Analysts at Citi have retained their buy rating and $12.40 price target on this gold miner’s shares after it announced the acquisition of a 50% interest in the Super Pit asset in Western Australia. According to the note, the broker sees positives in the acquisition, noting that it will become the second largest gold producer in the country. It also is pleased to see that activities at its Pogo operation are on track. Whilst I think there are better options in the gold industry, it could be worth considering Northern Star if you want a little exposure to the precious metal.

Worley Ltd (ASX: WOR)

A note out of UBS reveals that its analysts have retained their buy rating and lifted the price target to $17.50. According to the note, the broker doesn’t believe that Worley deserves to trade at such a discount to the rest of the market. It appears optimistic that the release of its results in February could be the catalyst to a re-rating of its shares. Whilst it isn’t a share that I’m a big fan of, it does look good value at 17.5x estimated FY 2020 earnings.

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

And here are five more buy-rated shares to consider snapping up for 2020.

NEW. Analyst Names 5 Stocks to Buy in 2020….

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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