Top brokers name 3 ASX shares to buy next week

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:

BHP Group Ltd (ASX: BHP)

According to a note out of Goldman Sachs, its analysts have retained their buy rating on the Big Australian’s shares with a trimmed price target of $49.40. This follows the release of a slightly weaker than expected second quarter update from the mining giant last week. Although Goldman wasn’t overly impressed with the update, it has seen enough to remain positive. The broker also continues to forecast an attractive 5% dividend yield for investors in FY 2024. The BHP share price was trading at $45.73 on Friday.

IGO Ltd (ASX: IGO)

Another note out of Goldman Sachs reveals that its analysts have retained their buy rating on this battery materials producer’s shares with a reduced price target of $9.70. Goldman believes that IGO remains a good option for investors even while lithium prices are falling. It highlights that its low costs leave it well-placed to navigate the tough operating environment. Goldman also feels that it is unlikely that ongoing sales curtailments will continue beyond March. The IGO share price was fetching $7.20 at Friday’s close.

ResMed Inc. (ASX: RMD)

Analysts at Citi have retained their buy rating and $29.00 price target on the sleep treatment company’s shares. Ahead of the release of ResMed’s second quarter update next week, the broker is feeling confident. It is forecasting strong revenue growth across ResMed’s devices, masks, and software despite the emergence of GLP-1 drugs like Ozempic. The ResMed share price ended the week at $26.39.

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

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More reading

• Why the BHP share price has a nickel thorn in its side
• 3 ASX 200 dividend shares I think you could safely hold for decades
• Brokers name 3 ASX shares to buy now
• Are BHP shares a buy following the miner’s Q2 update?
• Goldman Sachs says these blue chip ASX 200 shares are top buys

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in ResMed. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. 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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