Many of Australia’s top brokers have been busy adjusting their financial models and recommendations. This has led to a number of broker notes being released this week.
Three ASX shares that brokers have named as buys this week are listed below. Here’s why their analysts are feeling bullish on them right now:
Goodman Group (ASX: GMG)
According to a note out of Citi, its analysts have been looking at the industrial property market and are pleased with what they saw. They note that demand continues to outstrip supply, which is supporting rental growth. In addition, the broker is very positive on Goodman due to its 6.4GW power bank and $14 billion+ development pipeline. It is just waiting for news on lease execution across key markets such as Tokyo, Paris, Los Angeles, and Australia. When this happens, it believes the share price could respond very positively. The Goodman share price is trading at $32.65 on Wednesday.
Liontown Ltd (ASX: LTR)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this lithium miner’s shares with an improved price target of $2.90. Bell Potter believes the outlook for lithium prices is positive after comparing medium term lithium supply restarts and greenfield projects against expected demand. In light of this, it has lifted its lithium price forecasts and its earnings estimates for Liontown in FY 2027 and FY 2028. Outside this, with current lithium price strength, Bell Potter notes that the company can rapidly generate cash to support incremental production expansions and shareholder returns. It also thinks that Kathleen Valley is highly strategic in terms of scale, long project life, and location in a tier-one mining jurisdiction. The Liontown share price is fetching $2.12 at the time of writing.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at UBS have retained their buy rating and $26.00 price target on this fashion jewellery retailer’s shares. According to the note, the broker highlights that a good portion of Lovisa’s growth over the past decade has been driven by new store openings. The good news is that it expects this to continue with the company opening almost 50 stores since the end of the first half. This has been driven largely by new stores in Europe and America. The Lovisa share price is trading at $22.68 this afternoon.
The post Top brokers name 3 ASX shares to buy now 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 Goodman Group and Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goodman Group and Lovisa. The Motley Fool Australia has recommended Goodman Group and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.