Brokers name 3 ASX shares to buy today

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

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It has been another busy week for many of 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 right now:

Accent Group Ltd (ASX: AX1)

According to a note out of Bell Potter, its analysts have retained their buy rating on this footwear focused retailer's shares with a trimmed price target of $2.60. Although Accent's trading update was softer than expected due to margin pressures, the broker remains positive. It notes that it is optimistic that an interest rate cut could be the catalyst to driving an uptick in consumer spending. In addition, it is constructive on Accent's scale and exposure in terms of channels, brands, and size, in addition to growing a vertical brand strategy. Bell Potter also highlights that there's potential for Accent to rollout the Sports Direct banner in Australia. The Accent share price is trading at $2.16 on Friday.

Boss Energy Ltd (ASX: BOE)

Another note out of Bell Potter reveals that its analysts have retained their buy rating on this uranium producer's shares with an improved price target of $4.90. The broker was pleased with Boss Energy's second quarter update and particularly its lower than expected costs. It notes that it previously said that a successful second quarter update would warrant a re-rating. The broker believes it is now well and truly warranted and sees danger ahead for the short sellers that have been loading up on its shares. The Boss Energy share price is fetching $3.82 at the time of writing.

Karoon Energy Ltd (ASX: KAR)

Analysts at Goldman Sachs have retained their buy rating on this energy producer's shares with an improved price target of $2.08. According to the note, the broker was pleased with Karoon Energy's fourth quarter update. It notes that its production of 2.59 mmboe beat its estimates by 10% as Bauna recovered from unplanned maintenance over December. In light of this, it feels that its shares are severely undervalued trading at a ~35% discount to its risked net asset value. In addition, it estimates that its shares are trading on a ~9% free cash flow yield over 2025. This is supported by Goldman's expectations for oil prices to remain stable over the near term. As a result, it believes this will underpin 5% dividend yield in FY 2025. The Karoon Energy share price is trading at $1.58 this morning.

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. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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