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:
Smiling man working on his laptop.

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:

CSL Ltd (ASX: CSL)

According to a note out of Citi, its analysts have retained their buy rating and $345.00 price target on this biotechnology giant's shares. This follows the release of the quarterly update from rival Takeda Pharmaceutical Co Ltd (NYSE: TAK). Citi notes that Takeda's quarterly update revealed a strong increase in immunoglobulin products revenue over the prior corresponding period. It points out that this performance was in line with its expectations and believes it bodes well for CSL's performance during the first half of FY 2025. In fact, Citi highlights that Takeda's quarter supports its view that CSL will outperform the market's expectations for immunoglobulin and albumin sales during the half. In light of this, it continues to see plenty of value in its shares at current levels. The CSL share price ended the week at $285.29.

Mineral Resources Ltd (ASX: MIN)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $61.50 price target on this mining and mining services company's shares. Bell Potter notes that Mineral Resources' founder and CEO, Chris Ellison, is stepping down after an internal investigation. It isn't overly concerned by the news and advised that it continues to base its investment view on the fundamentals of its business rather than focus on the CEO scandal. In addition, it thinks that once the dust settles and proposed actions are taken, Mineral Resources will continue to be an attractive investment. Though, it concedes that its share price could be volatile in the near term while its investigation continues and speculation mounts about what Ellison will do with his sizeable stake. The Mineral Resources share price was fetching $38.47 at the end of the week.

Xero Ltd (ASX: XRO)

Analysts at Macquarie have retained their outperform rating on this cloud accounting platform provider's shares with an increased price target of $188.50. According to the note, the broker believes that Xero is delivering with its profitable growth strategy. And while it acknowledges that the company is currently offering sign up discounts to new subscribers, it highlights that this makes little difference to long-term customer lifetime value. Outside this, the broker points out that artificial intelligence could support margin expansion in the coming years and sees potential for earnings boosts from ongoing product enhancements and strategic acquisitions. This includes the recent acquisition of cloud-based reporting, insights, and analytics platform, Syft. The Xero share price was trading at $157.00 on Friday.

Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in CSL and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Macquarie Group, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. 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

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

These ASX shares could rise 25% to 30%

Big returns could be on offer from these stocks according to analysts.

Read more »

Businessman working and using Digital Tablet new business project finance investment at coffee cafe.
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 200 share Goldman Sachs says is a buy

The broker doesn't think Trump will spoil the party for this stock.

Read more »

A woman with strawberry blonde hair has a huge smile on her face and fist pumps the air having seen good news on her phone.
Broker Notes

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

These quality stocks are top picks in November according to the broker.

Read more »

Male building supervisor wearing high vis vest and hard hat stands and smiles with his arms crossed at a building site
Broker Notes

1 ASX 300 stock just upgraded by brokers (and 2 downgraded)

Here's the latest ratings changes.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

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

These quality stocks are top picks in November according to the broker.

Read more »

A man sees some good news on his phone and gives a little cheer.
Broker Notes

2 ASX 300 shares to buy now for 50% to 80% returns

These shares could have big return potential according to brokers. Let's see what they are saying.

Read more »

Broker looking at the share price.
Broker Notes

3 ASX All Ords shares just got BIG upgrades from top brokers

Leading brokers believe these ASX All Ords stocks could fly higher into 2025.

Read more »