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Brokers name 3 ASX shares to buy right now

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It has been another busy week for many of Australia’s top brokers. This has led to a number of broker notes being released.

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:

DroneShield Ltd (ASX: DRO)

According to a note out of Bell Potter, its analysts have retained their buy rating and $4.80 price target on this counter-drone technology company’s shares. This follows the release of a strong first-quarter update which revealed revenue up 121% on the prior corresponding period. Bell Potter was also pleased to see that SaaS revenue continues to grow strongly and now represents 6.9% of revenue. Looking ahead, the broker believes DroneShield has a market leading offering and a strengthening competitive advantage. This leaves it well-placed ahead of an expected wave of spending on these types of solutions. As a result, Bell Potter believes DroneShield should see material contracts flowing from its $2 billion+ potential sales pipeline over the next three to six months. The DroneShield share price is trading at $3.73 on Friday.

Generation Development Group Ltd (ASX: GDG)

A note out of Morgans reveals that its analysts have retained their buy rating on this diversified financial services company’s shares with a trimmed price target of $6.16. This follows the release of a solid quarterly update earlier this week. Morgans highlights that once again, the Investment Bond business delivered ahead of expectations. However, taking some of the shine off the result was the softer than expected performance from the Evidentia business. And while the latter has caused the broker to trim its earnings forecasts, it remains positive on Generation Development Group. This is largely due to its exposure to structural growth areas, and its strong competitive positioning in these markets. The Generation Development Group share price is fetching $3.54 at the time of writing.

WiseTech Global Ltd (ASX: WTC)

Another note out of Morgans reveals that its analysts have retained their buy rating on this logistics solutions technology company’s shares with a reduced price target of $70.40. Morgans has made significant changes to its technology coverage, lowering valuations to reflect higher discount rates and uncertainty over terminal values due to AI disruption. Despite this, the broker remains very positive on WiseTech Global and has named it as one of its key picks in the sector. The WiseTech Global share price is trading at $44.17 on Friday afternoon.

The post Brokers name 3 ASX shares to buy right now appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Generation Development 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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