Leading brokers name 3 ASX shares to buy today
A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
With so many shares to choose from on the Australian share market, it can be difficult 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 ASX shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Macquarie Technology Group Ltd (ASX: MAQ)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $100.00 price target on this technology company’s shares. The broker is particularly bullish on Macquarie Technology due to its fast-growing data centre business. And following a review of the data centre industry, it believes the market is undervaluing these assets. Especially given how they could be a great way for investors to gain exposure to structural tailwinds from the artificial intelligence (AI) boom. In addition, the broker feels the rest of the business is well positioned for the future. The Macquarie Technology share price is trading at $83.80 this afternoon.
Nickel Industries Ltd (ASX: NIC)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this nickel producer’s shares with an improved price target of $1.54. This follows the release of a quarterly update that was a touch short of expectations for production and costs but largely in line for earnings. Overall, the broker remains positive on Nickel Industries and believes its shares are cheap at current levels. Bell Potter highlights that it continues to trade on undemanding valuation multiples, offers a supportive dividend, and has demonstrated its ability to make money through the nickel price cycle. The Nickel Industries share price is fetching 98 cents on Monday afternoon.
Qube Holdings Ltd (ASX: QUB)
Analysts at Goldman Sachs have retained their buy rating on this logistics solutions company’s shares with an improved price target of $3.95. The broker attended Qube’s investor day event and was pleased with what it heard. Goldman believes that the company’s Patrick operation is unmatched and has an advantage at Port Botany via automation, its 1,400m quay line, and efficiencies. Another positive is that trading conditions are improving and execution risks at Moorebank are reducing. All in all, this led to the broker boosting its earnings estimates for the coming years and its valuation accordingly. The Qube share price is trading at $3.53 this afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.