Leading brokers name 3 ASX shares to buy today

With most brokers taking a break over the holiday period, there haven’t been many notes hitting the wires.

But never fear! Summarised below are three recent recommendations that remain very relevant today. Here’s what brokers are saying about these ASX shares:

Boss Energy Ltd (ASX: BOE)

According to a note out of Bell Potter, its analysts retained their buy rating on this uranium producer’s shares with a reduced price target of $2.00. This followed the release of a review on future production at the Honeymoon project. Although Bell Potter concedes that the update was very disappointing and makes the project’s future uncertain, it still sees potential for it to work. In fact, given its bullish view on uranium prices, it doesn’t think higher costs at Honeymoon are the end of the story. Bell Potter continues to assume production of 1.6 million pounds per annum over a 10-year mine life. In addition, its analysts think that Boss Energy’s cheap valuation could make it an attractive takeover target for a larger player. The Boss Energy share price is trading at $1.38 on Monday afternoon.

Generation Development Group Ltd (ASX: GDG)

A note out of Macquarie revealed that its analysts initiated coverage on this diversified financial services company’s shares with an outperform rating and $6.70 price target. Macquarie likes Generation Development Group because its businesses are market leaders in growth sectors, and are well positioned to scale. This includes its key Evidentia managed accounts segment, which Macquarie believes is poised to capture an outsized share of industry growth over 2024 to 2030. Another reason to be positive according to the broker is that management incentives are aligned with investors. It highlights that the top end of long term incentives require an earnings per share growth hurdle of +27.5%. The Generation Development Group share price is fetching $5.82 at the time of writing.

NextDC Ltd (ASX: NXT)

Analysts at Ord Minnett retained their buy rating on this data centre operator’s shares with an improved price target of $20.50. According to the note, the broker was pleased with news that NextDC has signed a memorandum of understanding with ChatGPT’s owner OpenAI. The two parties are looking to build the S7 data centre in Eastern Creek, Sydney. If constructed, it is expected to be a hyperscale AI campus and the largest in the southern hemisphere with 650MW capacity. Ord Minnett sees a lot of positives from the plan and believes it could be a big boost to NextDC’s valuation if it goes ahead as proposed. The NextDC share price is trading at $12.65 this afternoon.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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