Top brokers name 3 ASX shares to buy next week

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

| More on:
Two male ASX 200 analysts stand in an office looking at various computer screens showing share prices

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 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:

Gold Road Resources Ltd (ASX: GOR)

According to a note out of Goldman Sachs, its analysts retained their buy rating on this gold miner's shares with a reduced price target of $1.95. This followed the release of the company's quarterly update. The broker points out that much of the update was pre-released, so there were not many surprises. And although wet weather has led to management guiding to production at the low end of its guidance range, as well as costs at the high end of its guidance range, Goldman remains as bullish as ever. Particularly given the company's attractive valuation. The broker highlights that Gold Road's shares trade at ~0.9x net asset value, compared to its peers at 1.3x net asset value. It also has near-term free cash flow yields of 5% to 10% through to FY 2026. The Gold Road share price ended the week at $1.67.

Lynas Rare Earths Ltd (ASX: LYC)

Another note out of Goldman Sachs reveals that its analysts retained their buy rating on this rare earths producer's shares with a reduced price target of $7.95. This followed the release of a stronger-than-expected quarterly result from the company this week. Goldman highlights that Lynas' NdPr production of 1.72kt was 23% greater than it was forecasting thanks to a faster-than-expected ramp-up at the Lynas Advanced Materials Plant (LAMP) in Malaysia. Overall, the broker continues to believe that its shares are undervalued and remains positive on the long-term outlook of the NdPr market. The Lynas share price was trading at $6.20 on Friday.

NextDC Ltd (ASX: NXT)

Analysts at Morgans retained their add rating and $20.00 price target on this data centre operator's shares. This follows the completion of the company's institutional entitlement offer, which raised $937 million. The broker believes this positions NextDC perfectly for growth over the coming years. Especially as artificial intelligence drives another wave of demand for data centre capacity. In fact, the broker is so positive on the company's long-term outlook that it sees potential for its shares to be trading around the $40 mark at the start of the next decade. The NextDC share price was fetching $16.37 at Friday's close.

Motley Fool contributor James Mickleboro has positions in Nextdc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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 sits at his desk wearing a business shirt and tie and has a hearty laugh at something on his mobile phone.
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 »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

These ASX 200 shares could rise 20% to 40% in 2025

Analysts are tipping these shares to deliver huge returns for investors next year.

Read more »

a group of people stand examining a large glowing cystral ball held in the hands of one of the group members while the others regard it with various expressions of wonder, curiousity and scepticism.
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 man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Guess which ASX 50 share is a top buy for 2025

Bell Potter has just slapped a buy rating on this stock. Let's see why.

Read more »

a woman holds a facebook like thumbs up sign high above her head. She has a very happy smile on her face.
Broker Notes

Goldman Sachs just put a buy rating on this ASX 200 share

The broker has good things to say about this 'high-quality' company.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Top brokers name 3 ASX shares to buy today

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

Read more »

A little boy holds his fingers to his head posing as a bull.
Broker Notes

Why this broker is bullish on these ASX 200 stocks

Ord Minnett has good things to say about these shares.

Read more »

a man with a wide, eager smile on his face holds up three fingers.
Broker Notes

3 of the best ASX shares to buy for 2025

Analysts have good things to say about these shares ahead of the new year.

Read more »