Many of Australia's top brokers have been busy adjusting their financial models and recommendations following the release of company trading updates and financial results.
Three ASX shares that brokers have named as buys are listed below. Here's why their analysts are feeling bullish on them right now:
Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of Macquarie, its analysts have retained their outperform rating on this travel company's shares with a slightly reduced price target of $14.79. This follows Flight Centre's annual general meeting update, which revealed that management is forecasting underlying profit before tax of between $290 million and $325 million in FY 2027. This represents growth of 4% to 17% year on year. Macquarie highlights that earnings are expected to be heavily weighted towards the second half, supported by improving leisure trading conditions. The broker was also encouraged by the company's corporate travel business, which reported a 7% increase in transaction values during the first quarter, including impressive 15% growth in the US. And with further growth opportunities ahead, the broker continues to see upside for shareholders. The Flight Centre share price is trading at $12.01 on Friday.
Light & Wonder Inc. (ASX: LNW)
A note out of Morgans reveals that its analysts have retained their buy rating on this gaming technology company's shares with a reduced price target of $165.00. This follows the release of Light & Wonder's third-quarter results, which were a touch mixed. While its Gaming and iGaming businesses performed relatively well, its SciPlay social gaming division continued to struggle. However, Morgans was encouraged by the company's strong cash generation, with adjusted free cash flow reaching US$181 million during the quarter. This helped fund US$156 million in debt reduction, bringing its leverage ratio down to 3.3 times. Looking ahead, the broker expects growth in Light & Wonder's installed gaming machine base, new game releases, and further debt repayments to support its performance. Although Morgans has lowered its near-term earnings forecasts, it continues to believe the shares are materially undervalued and sees an attractive opportunity for investors heading into 2027. The Light & Wonder share price is fetching $122.18 at the time of writing.
Qantas Airways Ltd (ASX: QAN)
Analysts at Morgan Stanley have retained their overweight rating on this airline's shares with a reduced price target of $11.80. According to the note, the broker remains positive following Qantas' latest trading update, which revealed that travel demand continues to hold up well despite challenging economic conditions. Management maintained its forecast for domestic and international revenue per available seat kilometre to increase by 8% to 10% in the first half of FY 2027. Morgan Stanley also highlights the airline's disciplined approach to capacity, which is helping support fares and profitability. Although Qantas has increased its first-half fuel cost forecast to approximately $3.75 billion, the broker notes that around 85% of its FY 2027 fuel requirements are hedged. It was also encouraged by management's expectation that capital expenditure will be towards the lower end of its previous guidance range. With international travel demand and Jetstar continuing to perform strongly, Morgan Stanley remains bullish on the airline's outlook. The Qantas share price is trading at $9.75 this afternoon.
The post Top brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
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 Light & Wonder Inc and Macquarie Group. The Motley Fool Australia has recommended Flight Centre Travel Group, Light & Wonder Inc, and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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