Top brokers name 3 ASX shares to buy next week

It was another busy week for Australia’s top brokers. This led to the release of a large number of broker notes.

Three ASX 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 Goldman Sachs, its analysts have retained their buy rating and $49.40 price target on this mining giant’s shares. The broker was happy with BHP’s half-year result, noting that it was broadly in-line with expectations. In light of this, Goldman remains as positive as ever on the miner. Particularly given that it sees the company’s valuation as attractive at current levels. The BHP share price ended the week at $44.55.

Lovisa Holdings Ltd (ASX: LOV)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this fashion jewellery retailer’s shares with an improved price target of $32.50. This follows the release of a half-year result that came in ahead of expectations. The broker was also pleased with Lovisa’s strong start to the second half. The Lovisa share price was fetching $29.17 at Friday’s close.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Morgans have retained their add rating on this lithium miner’s shares with a trimmed price target of $4.50. According to the note, Pilbara Minerals’ half-year profits fell short of expectations. However, Morgans remains positive on the miner. Particularly given how it believes the company is well-positioned to benefit more than most when lithium prices rebound. The Pilbara Minerals share price ended the week at $3.67.

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

• Why ASX 200 investors remain upbeat on Pilbara Minerals shares
• Better buy: Fortescue or BHP shares?
• I’d aim to turn a $20,000 savings account into $25,400 of passive income
• Here are the top 10 ASX 200 shares today
• Here’s how these 3 ASX 200 shares just earned substantial broker upgrades

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 Goldman Sachs Group and 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.

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