Brokers name 3 ASX shares to buy today

It has been another busy week for Australia’s top brokers. This has led to the release of a large 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:

Pilbara Minerals Ltd (ASX: PLS)

According to a note out of Morgans, its analysts have upgraded this lithium miner’s shares to an add rating with a $4.70 price target. This upgrade comes just a day after the broker initiated coverage on Pilbara Minerals with a hold rating. Morgans believes that a selloff this week has been an over-reaction and created a buying opportunity for investors. Though, it concedes that sentiment towards the industry could weaken in the short term and may not change until the release of a strong quarterly update. The Pilbara Minerals share price is currently trading at $4.07.

Whitehaven Coal Ltd (ASX: WHC)

A note out of Citi reveals that its analysts have upgraded this coal miner’s shares to a buy rating with an improved price target of $11.10. The broker made the move on the belief that coal prices will be higher for longer. Citi expects this to underpin some big dividends in the coming years. So much so, it is forecasting double digit dividend yields through to FY 2025. The Whitehaven Coal share price is fetching $10.30 this morning.

Woolworths Group Ltd (ASX: WOW)

Analysts at Goldman Sachs have retained their conviction buy rating and $41.70 price target on this retail giant’s shares. This follows news that Woolworths has acquired a 55% stake in pet accessories and food retailer Petspiration Group. Goldman believes the transaction is an incrementally positive step in the evolution of its eco-system strategy. It also notes that the transition from liquor retail and gaming/hotels into higher growth, and closer synergies with the family shopper pet retail is in line with its strategy. The Woolworths share price is trading at $34.03 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

• Make or break: the one metric I’ll be watching for Pilbara Minerals shares next year
• Pilbara Minerals share price selloff ‘a significant over-reaction’: broker
• 5 things to watch on the ASX 200 on Friday
• Why did the Sayona Mining share price dive 7% on Thursday?
• 3 ASX shares to buy for a possible recession next year

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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 Scott Phillips.

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