Motley Fool's report on Galaxy:
Leading brokers name 3 ASX shares to buy today
James Mickleboro | April 24, 2018 |
More on: ALL GXY STO
There certainly is a lot of quality shares to choose from on the Australian share market.
This can make it hard to decide which ones to buy. Luckily, to make your life easier brokers across Australia are doing a lot of the hard work so you don’t have to.
Three shares they are recommending as buys this week are listed below. Here’s why they like them:
Aristocrat Leisure Limited (ASX: ALL)
Galaxy Resources Limited (ASX: GXY)
A note out of
Citi reveals that its analysts have retained their
buy(high risk) rating but cut the price target on the lithium miner’s shares to $4.50 following the release of its quarterly production update on Monday. The broker thought Galaxy delivered a weak quarter and has pointed to its lower feed grades as being the cause. It was pleased to see the company finish the quarter with a strong cash balance and no debt, however.
MF thinks that Galaxy is the best option for investors wanting exposure to the lithium industry. But considering the recent weakness in lithium prices industry-wide, I am concerned that Galaxy could see a sizeable decline in its realised prices over the coming years if the trend continues. Because of this, I will be considering whether to take some profit off the table following its stellar run since the middle of last year.
Santos Ltd (ASX: STO)
