It was another busy week for 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:
Lovisa Holdings Ltd (ASX: LOV)
According to a note out of Morgans, its analysts have retained their buy rating on this fashion jewellery retailer’s shares with a trimmed price target of $36.80. The broker was pleased with Lovisa’s half-year results, which revealed underlying EBIT up 20.4% on the prior corresponding period. This was ~6% ahead of its expectations, driven by store network growth and strong gross margins. Morgans was also pleased to see the pace of its store rollout continue with 64 new stores opened, bringing the total count to 1,095. In response, the broker has increased its earnings estimates for FY 2026 and FY 2027. And with its shares pulling back meaningfully recently, the broker sees this as a buying opportunity for investors. The Lovisa share price ended the week at $26.21.
Northern Star Resources Ltd (ASX: NST)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this gold miner’s shares with an increased price target of $35.00. The broker notes that Northern Star released a half-year update last week that was largely in line with expectations. While the broker concedes that there is uncertainty relating to how quickly management can rectify remaining disruptions, it believes it is worth sticking with the miner. This is especially the case given its expectation that Northern Star will hit a cashflow inflection point in FY 2028. After which, it sees potential for capital returns or buybacks should KCGM reach capacity ahead of cash outlays for the Hemi operation. The Northern Star share price was fetching $28.33 at Friday’s close.
Seek Ltd (ASX: SEK)
Another note out of Morgans reveals that its analysts have upgraded this job listings company’s shares to a buy rating with a $27.50 price target. This follows the release of a half-year result that was largely in line with expectations. Seek posted a 12% increase in revenue and a 35% jump in net profit. Overall, Morgans believes that recent share price weakness has created a buying opportunity for investors. However, it concedes that Seek still has many questions to answer on the AI threat. The Seek share price ended the week at $16.27.
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
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- Lovisa shares are getting hammered on a profit miss, but is the stock still a buy?
- Why Goodman, Lovisa, Medibank, and Zip shares are falling today
Motley Fool contributor James Mickleboro has positions in Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.