Brokers name 3 ASX shares to buy now

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

| More on:
Woman in celebratory fist move looking at phone

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

It has been another busy week for Australia's top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:

BHP Group Ltd (ASX: BHP)

According to a note out of Morgans, its analysts have retained their add rating and $51 price target on this mining giant's shares. The broker highlights that a number of large-cap miners have pulled back materially in recent weeks due to weak economic data out of China. In respect to BHP, Morgans believes that this has created a very attractive buying opportunity for investors. Particularly given its positive view on iron ore demand. The BHP share price is trading at $43.64 this afternoon.

Goodman Group (ASX: GMG)

A note out of Citi reveals that its analysts have retained their buy rating on this industrial property company's shares with an improved price target of $24.50. Citi believes that Goodman's earnings growth guidance of 9% in FY 2024 is conservative and expects 11% growth instead. The broker also highlights the company's significant opportunity in data centres, which now make up ~30% of the development book and contribute higher margins. The Goodman share price is fetching $22.25 on Friday.

Telstra Group Ltd (ASX: TLS)

Analysts at Goldman Sachs have retained their buy rating on this telco giant's shares with a trimmed price target of $4.70. Goldman was pleased with Telstra's FY 2023 result and particularly the "stellar" performance of its mobile business. And while its guidance was a little on the light side, the broker remains positive. It believes Telstra's low-risk earnings (and dividend) growth across FY 2022-25 is attractive in the current environment. The Telstra share price is trading at $4.01 today.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group and Goodman Group. The Motley Fool Australia has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Goodman Group. 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

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

Leading broker tips 50%+ upside for IDP Education shares

The team at Macquarie thinks this beaten down stock could be a buy.

Read more »

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Broker Notes

Top brokers name 3 ASX shares to buy today

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

Read more »

A bland looking man in a brown suit opens his jacket to reveal a red and gold superhero dollar symbol on his chest.
Broker Notes

Bell Potter names the best ASX 200 stocks to buy in June

The broker is feeling bullish on these names this month. Let's find out why.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Broker Notes

Bell Potter says this ASX 200 share can rise 25%

Let's see what the broker is saying about this stock.

Read more »

Stethoscope with a piggy bank in the middle.
Broker Notes

Australian health insurance: Does Macquarie prefer Medibank or NIB shares?

Medibank and NIB shares have both surged in 2025. Here’s what Macquarie expects now.

Read more »

Man smiling at a laptop because of a rising share price.
Broker Notes

9 ASX 200 shares just upgraded to strong buy ratings

Brokers have upgraded these shares amid expectations of price growth over the next 12 months.

Read more »

Red sell button on an Apple keyboard.
Broker Notes

Sell alert! Brokers say pull the plug on these 3 ASX 200 shares

Experts say it's time to press the sell button on these ASX 200 shares. Find out why.

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Broker Notes

Macquarie forecasts 40% upside for this ASX All Ords stock

Let's see which stock the broker is tipping as a buy.

Read more »