It has been another busy week for many of 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 right now:
Genesis Minerals Ltd (ASX: GMD)
According to a note out of Bell Potter, its analysts have retained their buy rating and $9.90 price target on this gold miner’s shares. The broker has been looking ahead to the release of its third-quarter update this month. While it is expecting a small decline in production compared to the last quarter, it is forecasting production ahead of consensus estimates. Outside this, the broker remains very positive on gold and believes Genesis Minerals would be a good way to gain exposure to it. This is especially the case given the discount its shares trade on compared to peers. The Genesis Minerals share price is trading at $6.54 this afternoon.
Goodman Group (ASX: GMG)
A note out of UBS reveals that its analysts have retained their buy rating and $33.92 price target on this industrial property company’s shares. This follows news that Goodman has formed a joint venture with DataBank for its Los Angeles data centre. This will enable the launch of a new 32MW facility in the city, which is one of the most supply-constrained data centre markets in the United States. UBS is positive on the deal and believes it could generate strong profits. Overall, the broker highlights that this deal demonstrates Goodman’s ability to secure partners and execute on its data centre strategy. The Goodman share price is fetching $27.89 at the time of writing.
Sigma Healthcare Ltd (ASX: SIG)
Analysts at Morgans have upgraded this pharmacy chain operator and wholesale distributor’s shares to a buy rating with a $3.36 price target. According to the note, the broker believes Sigma is well-placed to deliver strong earnings growth over the medium term. This is expected to be underpinned by same store sales growth, store rollouts, and synergies from the Chemist Warehouse merger. And given recent share price weakness, it sees now as an opportune to invest. The Sigma Healthcare share price is trading at $2.72 today.
The post Brokers name 3 ASX shares to buy right now appeared first on The Motley Fool Australia.
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More reading
- Broker sees 26% upside in ASX healthcare share behind Chemist Warehouse
- Which cheap ASX 200 gold stock could rise over 50%?
- 7 ASX 200 shares just upgraded to strong buy ratings
- How to invest $1,000 per month in ASX shares and build long-term wealth
- How to invest $300 a month in Australian shares to target a $50,000 annual second income
Motley Fool contributor James Mickleboro has positions in Goodman Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group. The Motley Fool Australia has recommended Goodman Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.