Brokers name 3 ASX shares to buy now

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:

Argosy Minerals Limited (ASX: AGY)

According to a note out of Macquarie, its analysts have retained their outperform rating and 80 cents price target on this lithium developer’s shares. Macquarie has been pleased with the progress the company is making with its Rincon lithium project in Argentina. It highlights that the steady run-rate production is expected to be achieved in the coming months. The Argosy Minerals share price is currently trading 50% lower than Macquarie’s valuation at 40 cents.

Regis Resources Ltd (ASX: RRL)

A note out of Morgans reveals that its analysts have upgraded this gold miner’s shares to an add rating with an improved price target of $2.51. Although Regis delivered a third-quarter update that was short of the broker’s expectations, it is sticking with it. This is due to its improving outlook thanks partly to the McPhillamys approval. In addition, Morgans views potential consolidation activity in the large-cap gold domain and the organic growth opportunity offered by Regis favourably. The Regis Resources share price is fetching $2.13 today.

Telstra Group Ltd (ASX: TLS)

Another note out of Macquarie reveals that its analysts have retained their outperform rating on this telco giant’s shares with an improved price target of $4.68. This follows news that Telstra has lifted some of its mobile prices. The broker was pleased with the news and sees rational pricing as a big positive for Telstra. In fact, it suspects that the company could be on course to deliver stronger than expected earnings in the coming years because of this. The Telstra share price is trading at $4.37 on Friday.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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More reading

• 2 ASX 200 gold stocks just downgraded by brokers (and one upgraded)
• Here are the top 10 ASX 200 shares today
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• ‘Well placed for strong growth’: 3 ASX 200 shares that hit the spot right now
• Buy Telstra and this ASX 200 dividend share for passive income: brokers

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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra 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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