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:
A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements

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 was 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:

Beach Energy Ltd (ASX: BPT)

According to a note out of Bell Potter, its analysts have retained their buy rating on this energy producer's shares with an improved price target of $1.50. Bell Potter was pleased with the company's performance during the last quarter. It notes that production, sales volumes, and revenue all comfortably beat its expectations thanks partly to its Otway Basin wells. Outside this, Bell Potter is feeling very positive about Beach Energy's outlook. Especially given that its capital expenditure is trending lower, which it believes will be supportive of free cash flow growth. And with a positive view on Australian east coast gas and LNG markets, Bell Potter thinks now is a good time to buy this energy producer's shares. The Beach Energy share price ended the week at $1.27.

CSL Ltd (ASX: CSL)

Another note out of Bell Potter reveals that its analysts have initiated coverage on this biotechnology giant's shares with a buy rating and $345.00 price target. Bell Potter acknowledges that trading conditions could be relatively tough for the CSL Vifor and CSL Seqirus businesses in the near term. However, it expects this to be offset by strong growth from the key CSL Behring business. So much so, the broker believes that the company is positioned to deliver double-digit earnings growth in the coming years. So, with its shares looking undervalued compared to historical multiples, it feels that now could be a great time to snap them up. The CSL share price was fetching $293.69 at Friday's close.

WiseTech Global Ltd (ASX: WTC)

Analysts at Goldman Sachs have upgraded this logistics solutions company's shares to a buy rating with a $138.00 price target. According to the note, the broker believes that the significant sell off this week has created a compelling opportunity to buy one of Australia's best global growth stories. This is particularly the case given that Goldman believes there is about to be an acceleration in WiseTech Global's organic earnings growth. Its analysts think that the adoption of CargoWise is a matter of when, not if, for all large freight forwarders, providing material scope for new customer acquisition in the near future. The WiseTech Global share price ended last week at $112.00.

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended CSL. 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

Human head and artificial intelligence head side by side.
AI Stocks

The future of AI: Best ASX shares to buy now

Brokers are backing these 3 ASX shares for future growth amid the artificial intelligence revolution.

Read more »

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look on his face.
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 »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Broker Notes

These ASX shares could rise 19% and 35%

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

Read more »

Two excited woman pointing out a bargain opportunity on a laptop.
Broker Notes

2 exciting ASX shares this fund manager thinks are buys

These stocks could be exciting opportunities to buy.

Read more »

Three happy construction workers on an infrastructure site have a chat.
Resources Shares

3 ASX lithium stocks primed for an electric performance: Macquarie

Time to charge up?

Read more »

Three happy multi-ethnic business colleagues discuss investment or finance possibilities in an office.
Broker Notes

ASX financial shares are up 33% this year. Brokers reveal which stocks to buy for 2025

After such a stellar run, are there any good buys left among ASX financial shares?

Read more »

Smiling man sits in front of a graph on computer while using his mobile phone.
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 with a wide, eager smile on his face holds up three fingers.
Broker Notes

3 reasons to buy this ASX 200 stock now

Bell Potter thinks investors should be snapping up this stock right now.

Read more »