It was another busy week for Australia’s top brokers. This led to the release of a large number of broker notes.

Three ASX 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 a trimmed price target of $2.05. Although the broker was disappointed with delays to Waitsia Stage 2, which it sees as a key component to the company’s near-term production growth, it remains positive. This is due to Beach Energy’s positive outlook thanks to its fully funded production growth plans and its rolling-off peak capex. The broker also has a positive view on the Australian east coast gas and LNG markets. The Beach Energy share price ended the week at $1.37.

Technology One Ltd (ASX: TNE)

Another note out of Bell Potter reveals that its analysts have upgraded this enterprise technology company’s shares to a buy rating with an improved price target of $17.00. Bell Potter believes Technology One is well-placed to deliver a strong half-year result next week and expects more of the same in the coming years. In fact, the broker suspects that the company is growing quicker than expected and may achieve its medium term guidance a year earlier than planned. The Technology One share price was fetching $15.25 on Friday.

Xero Limited (ASX: XRO)

Analysts at Goldman Sachs have retained their buy rating on this cloud accounting platform provider’s shares with an improved price target of $130.00. Goldman Sachs was pleased with Xero’s performance in FY 2023 and believes that there will be more strong growth in FY 2024. In addition, the broker feels that Xero’s expense ratio target of 75% next year is achievable based on its second half performance. The Xero share price was trading at $108.00 on Friday.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• Brokers name 3 ASX shares to buy now
• Why AUB, Austal, Core Lithium, and Xero shares are pushing higher
• Broker urges investors to buy the dip in the Beach Energy share price for a 50% return
• Xero share price can still rise almost 30% from here: Goldman Sachs

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/WNDTlcU

• Stock Market