Top brokers name 3 ASX shares to buy next week

Brokers gave the thumbs up to these ASX shares last week. Here's why they are bullish on them…

| More on:
a smiling woman sits at her computer at home with a coffee alongside her, as if pleased with her investments.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.

Here's why brokers think investors ought to buy them next week:

Allkem Ltd (ASX: AKE)

According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this lithium miner's shares with a slightly trimmed price target of $15.40. This follows the release of Allkem's first-half results, which came in slightly ahead of expectations. Allkem remains Goldman's preferred lithium exposure due to its discount to peers and its optionality across the Americas and Australia on the largest lithium resource under its coverage. The Allkem share price ended the week at $12.36.

Harvey Norman Holdings Limited (ASX: HVN)

Another note out of Goldman Sachs reveals that it analysts have retained their buy rating on this retail giant's shares with a trimmed price target of $4.70. Although Harvey Norman's first-half results fell short of expectations, Goldman remains positive for a number of reasons. This includes its dirt cheap valuation compared to peers and its belief that the peak cash drag on franchisee support is behind it. The Harvey Norman share price was fetching $3.71 at Friday's close.

Pointsbet Holdings Ltd (ASX: PBH)

Analysts at Bell Potter have retained their speculative buy rating on this sports betting company's shares with a reduced price target of $2.75. This follows a mixed half-year result with Pointsbet's revenue beating expectations but its loss coming in greater than forecast. Nevertheless, the broker remains positive given its very large opportunity in the North American sports betting market. The Pointsbet share price ended the week at $1.43.

Should you invest $1,000 in Altium right now?

Before you buy Altium shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Altium wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 7 February 2025

Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman and PointsBet. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool Australia has recommended PointsBet. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Technology Shares

Goldman Sachs says this ASX 200 stock can rise 20%+

Let's see why the broker believes this stock could deliver market-beating returns.

Read more »

Successful group of people applauding in a business meeting and looking very happy.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

Three guys in shirts and ties give the thumbs down.
Broker Notes

3 reasons to sell Guzman y Gomez shares right now

Goldman Sachs thinks now is the time to sell this fast-food stock.

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

Smiling couple looking at a phone at a bargain opportunity.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Broker Notes

These ASX 200 shares could rise 10% to 40%

Analysts are tipping these shares to deliver big returns over the next 12 months.

Read more »

A woman presenting company news to investors looks back at the camera and smiles.
Broker Notes

Down 26%! Buy this ASX 200 stock while it's dirt cheap

Bell Potter thinks this blue chip has been oversold and is in the buy zone now.

Read more »