Leading brokers name 3 ASX shares to buy today 30 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:
According to a note out of Macquarie, its analysts have retained their outperform rating and $57.00 price target on this mining giant’s shares. Macquarie remains a big fan of BHP post the demerger of its petroleum assets. It likes that the miner has exposure to a range of green commodities including copper, nickel, and potash. The BHP share price is trading at $44.73 on Monday afternoon.
Jumbo Interactive Ltd (ASX: JIN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this lottery ticket seller’s shares with an improved price target of $25.50. Morgan Stanley feel that the market doesn’t appreciate the growth potential of Jumbo’s software business. Particularly given how management is aiming to generate half its revenue from this side of the business by FY 2026. This will be a big increase from the broker’s estimate of under 20% next year. Overall, its analysts are bullish on its outlook and see recent share price weakness as a buying opportunity. The Jumbo share price is fetching $15.62 today.
Westpac Banking Corp (ASX: WBC)
Analysts at Citi have retained their buy rating and $29.00 price target on this banking giant’s shares. According to the note, the broker believes that the major banks will see a swing from lending-derived revenue growth to deposit-derived growth as rates rise and credit slows. In light of this, it expects the current valuation gap between asset growing and revenue challenged banks will close. Citi prefers the latter in the current environment. The Westpac share price is trading at $24.26 today.