Top Brokers Recommend 3 ASX Shares to Buy on February 4, 2026
Australia’s leading brokers have made significant updates to their stock recommendations. As of February 4, 2026, three ASX shares have been highlighted for potential investment. Here are the details surrounding these choices.
1. Credit Corp Group Ltd (ASX: CCP)
Morgans has maintained a buy rating for Credit Corp Group, adjusting its price target to $19.35. The company recently reported a first-half profit that fell short of expectations by 10%. Following this news, the stock price dropped by 17%, which Morgans believes presents a favorable buying opportunity for investors.
- Current share price: $11.56
- Valuation: 7x estimated FY 2027 earnings
- Management confidence: Guidance for FY 2026 remains unchanged
2. Newmont Corporation (ASX: NEM)
Morgans has upgraded Newmont Corporation’s shares to a buy rating, with a new price target of $190.00. The broker remains optimistic about the future of gold prices, despite recent declines, and has revised its forecasts through FY 2029.
- Current share price: $171.88
- Rationale: Production growth expected to drive strong cash generation
- Market position: Newmont is favored as a top large-cap gold miner
3. Xero Limited (ASX: XRO)
UBS has retained a buy rating for Xero, with a price target of $174.00. The broker responded positively to Xero’s investor update, which emphasized its AI initiatives and growth opportunities in the U.S. market. Notably, Xero’s Melio payments division is anticipated to break even in FY 2028, an earlier timeline than expected.
- Current share price: $80.82
- Investor outlook: Market may be undervaluing the Melio business
- Company strategy: Resilient business model against AI disruption
These insights from top brokers underline the potential in these ASX shares, providing investors with valuable information for their decision-making.
