Leading brokers name 3 ASX shares to buy today 23 May 2022
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With so many shares to choose from on the ASX, 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 ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Aussie Broadband Ltd (ASX: ABB)
According to a note out of Ord Minnett, its analysts have retained their buy rating and $5.10 price target on this broadband provider’s shares. The broker has been looking at industry data and was pleased to see market share gains for Aussie Broadband. Another positive is a shift towards higher margin plans across the industry. The Aussie Broadband share price is trading at $4.12 on Monday.
A note out of Citi reveals that its analysts have retained their buy rating on this personal care products company’s shares with a trimmed price target of $2.76. Citi took away positives and negatives from BWX’s investor day. The company’s long term margin guidance was ahead of expectations, but its revenue targets were either lower than planned or withdrawn. Nevertheless, Citi remains positive and believes the company’s Sukin brand is likely to appeal in a high inflation environment. It also estimates that the company’s shares trade at just 11x FY 2023 earnings. The BWX share price is fetching $1.42 this afternoon.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have retained their buy rating and $41.70 price target on this retail giant’s shares. This follows news that Woolworths has signed an agreement to acquire a controlling stake in MyDeal.com Au Ltd (ASX: MYD). While Goldman acknowledges that the deal is immaterial and MyDeal adds just 0.1% to Woolworths’ revenue, it sees potential for it to bolster its marketplace capabilities. The Woolworths share price is trading at $34.83 today.