Top Broker lists 3 ASX Stocks to Buy Today
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With the Australian share market brimming with opportunities, identifying the right stocks to invest in can be overwhelming. Fortunately, leading brokers across the country have done the heavy lifting, analyzing financial reports, market trends, and growth potential to pinpoint the best stocks to buy right now.
Here are three ASX-listed companies that have caught the attention of top analysts this week, along with their reasons for being bullish on these stocks.
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Accent Group Ltd (ASX: AX1)
A recent update from Citi has upgraded Accent Group’s stock to a buy rating, with an increased price target of $2.57. The move comes after the company’s half-year earnings report, which highlighted a promising sales performance in the second half of FY25. Citi also pointed out that the company’s store expansion is progressing at a faster-than-expected rate, and its cost-cutting measures are expected to improve profitability. With shares currently trading at $2.06, analysts believe Accent Group has the potential for solid upside this year.
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Codan Ltd (ASX: CDA)
Goldman Sachs remains optimistic about Codan, maintaining its buy rating with a revised price target of $18.50. The company, known for its metal detection and communications technology, reported results that exceeded market expectations. While Codan has forecasted 15% revenue growth for FY25, Goldman Sachs believes this estimate is conservative, predicting a stronger 23% growth instead. With expected net profit rising to $100 million in FY25, followed by continued expansion in FY26 and FY27, the current share price of $16.27 could present an attractive entry point for long-term investors.
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Telix Pharmaceuticals Ltd (ASX: TLX)
Bell Potter has recently upgraded Telix Pharmaceuticals to a buy rating, raising its price target to $36.00. Although the company’s FY24 earnings were 14% below expectations, analysts remain confident about its future potential. Telix’s key product, Illuccix, is forecasted to drive 24% revenue growth, pushing total revenue to $1 billion in FY25. With a strong pipeline of new product launches and acquisitions, Telix is aggressively positioning itself for continued expansion, making it a stock worth watching.
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