With most brokers across Australia still having a well-earned break, broker notes are going to be limited until at least next week.
However, listed below are a few recent broker recommendations that remain very relevant today. Here why these three ASX shares are rated as buys:
Allkem Ltd (ASX: AKE)
According to a note out of Citi, its analysts have put a buy rating and $12.00 price target on this lithium miner’s shares. The broker is positive on Allkem in 2022 due to its belief that lithium prices will remain strong. And while it suspects that costs may increase due to higher higher feedstock prices and wages, it isn’t enough to dampen its bullish view. The Allkem share price is trading at $10.88 on Friday afternoon.
Breville Group Ltd (ASX: BRG)
A note out of Macquarie reveals that its analysts have an outperform rating and $34.37 price target on this appliance manufacturer’s shares. Macquarie notes that one of the company’s distributors in the United States has recently delivered a solid result. Combined with a strong result from rival DeLonghi, Macquarie feels this could be a sign that Breville is performing very positively in FY 2022. The Breville share price is fetching $30.90 this afternoon.
South32 Ltd (ASX: S32)
Another note out of Macquarie reveals that its analysts have put an outperform rating and $5.20 price target on this mining giant’s shares. According to the note, its analysts believe South32 is well-placed to deliver strong earnings and free cash flow in the coming years. Particularly given its recent acquisition of a stake in the Sierra Gorda copper mine. Macquarie expects this to underpin a fully franked 6% dividend yield in FY 2022. The South32 share price is trading at $3.92 on Friday.
The post Brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why the South32 (ASX:S32) share price jumped 62% in 2021
- Here are the 5 best performing ASX 200 mining and resource shares of 2021
- What is JP Morgan saying about ASX lithium shares?
- ASX 200 (ASX:XJO) midday update: Afterpay sinks again, BHP and Rio rise
- Why the South32 (ASX:S32) share price is pushing higher again today
Motley Fool contributor James Mickleboro owns Allkem shares. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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