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Top brokers name 3 ASX shares to buy next week

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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:

BHP Group Ltd (ASX: BHP)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $56.00 price target on this mining giant’s shares. Morgan Stanley notes that the Big Australian’s CEO, Mike Henry, will be stepping down after six and a half years leading the company. The good news is that he will be replaced from within, with Brandon Craig taking the reins on 1 July. Morgan Stanley believes this signals strategic continuity. The broker highlights that Craig has significant experience with BHP and has held various leadership roles across the group. This includes strengthening BHP’s position in copper and potash in the Americas region. As a result, Morgan Stanley appears to see the change of leadership as low-risk and expects it to be supportive of execution across key growth projects. The BHP share price ended the week at $47.47.

Northern Star Resources Ltd (ASX: NST)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $35.00 price target on this gold miner’s shares. Bell Potter was disappointed that Northern Star downgraded its guidance for a second time in FY 2026. It felt the company was finally seeing light at the end of the tunnel, so was surprised with the news. And while Northern Star has held firm with its cost guidance, Bell Potter expects this to be retracted when it releases its third-quarter update. However, despite all these negatives, the broker remains positive on the investment opportunity here. It highlights potential positives from asset rationalisation, noting the high capital and operating costs at the likes of Jundee and Thunderbox. The Northern Star share price was fetching $18.50 at Friday’s close.

Xero Ltd (ASX: XRO)

Analysts at Citi have retained their buy rating and $144.80 price target on this cloud accounting platform provider’s shares. According to the note, the broker believes that macro trends are positive for Xero. Citi points out that business formation is accelerating in both Australia and the United States, while insolvency trends are improving. It believes this combination points to increased demand for its platform. Coupled with potential margin expansion from cost efficiencies and AI adoption, Citi believes Xero is well-placed to grow its earnings in the coming years. The Xero share price ended the week at $77.00.

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

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Citigroup is an advertising partner of Motley Fool Money. 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 Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended BHP 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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