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The Fortescue Metals Group Limited (ASX: FMG) share price will be one to watch next week.

This follows the release of a late announcement on Friday by the iron ore giant.

What did Fortescue announce?

After the market close, Fortescue released an update on the Belinga Iron Ore Project in the Republic of Gabon.

According to the release, the company’s 80% owned joint venture company, Ivindo Iron, has signed the exploration convention for the project with the Gabon Government. This follows an agreement between the two parties late last year that granted Fortescue an exclusivity period to study the opportunity to develop the Belinga iron ore deposit.

Clearly it has liked what it saw at the project. So much so, Fortescue expects to spend approximately US$90 million over three years on an exploration works program at the 4,500 square kilometres project.

These activities are expected to immediately commence upon grant of the exploration licences, with the initial focus on exploration works to determine the potential size and grade of the Belinga iron ore deposit and to evaluate logistics solutions.

Fortescue’s chief executive officer, Elizabeth Gaines, said:

Fortescue is committed to its strategic pillars of investing in the long-term sustainability of the iron ore business and investing in growth. Consistent with this approach, Fortescue is pursuing global opportunities in iron ore that align with our strategy and expertise.

We welcome the opportunity to assess the Belinga Project, which we believe is potentially one of the world’s largest undeveloped, high-grade hematite deposits. We look forward to working with our partner, the Gabon Government and all key stakeholders on this important project as we continue to assess opportunities to optimise growth and returns in our iron ore business.

The Fortescue share price is down 3.5% in 2022.

The post Why the Fortescue share price is on watch next week appeared first on The Motley Fool Australia.

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More reading

• Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker
• 1 factor that could drag on Fortescue Future Industries’ green dream
• Can shareholders have bigger dividends AND more spending on Fortescue Future Industries?
• Why is the Rio Tinto share price lagging the ASX 200 on Tuesday?
• ‘Self-interested billionaires’: Fortescue share price climbed today despite union war of words

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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If you’re looking for new additions to your income portfolio next week, then the two ASX dividend shares listed below could be worth considering.

Both shares have been rated as buys by analysts and tipped to provide attractive yields in the coming years. Here’s what you need to know:

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first ASX dividend share for income investors to look at is the Charter Hall Social Infrastructure REIT.

As its name implies, this real estate investment trust invests in social infrastructure properties such as bus depots, government facilities, police and justice services, and childcare centres.

The analysts at Goldman Sachs are big fans of the company. This is due partly to its sky high occupancy rate and long leases.

The broker is expecting this to underpin growing dividends in the coming years. For example, it is forecasting dividends per share of 17.3 cents in FY 2023 and 18 cents in FY 2024. Based on its current share price of $3.73, this implies yields of 4.8% and 5.1%, respectively.

Goldman also sees a lot of value in its shares at the current level with its conviction buy rating and $4.35 price target. This suggests potential upside of 17%.

Dexus Industria REIT (ASX: DXI)

Another ASX dividend share to look at is industrial and office property company Dexus Industria.

It has been rated as a share to buy by analysts at Morgans. The broker appears confident that the company is well-placed to deliver sustainable income and capital growth over the long term.

In the near term, the broker is anticipating some attractive dividend yields. It is forecasting dividends per share of 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $2.85, this will mean yields of 5.75% and 5.9%, respectively.

Another positive is that the broker sees plenty of upside for its shares with its price target of $3.25. This implies potential upside of 14%.

The post Anaysts name 2 ASX dividend shares to buy next week appeared first on The Motley Fool Australia.

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More reading

• Goldman Sachs names 2 ASX dividend shares to buy
• Analysts say these ASX dividend shares are top buys
• 2 quality ASX dividend shares rated as buys by brokers
• Analysts rate these ASX dividend shares as buys now

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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If you’re a fan of growth shares like I am, then you’ll be pleased to hear that a number have recently been rated as buys by leading brokers.

Two such ASX shares are listed below. Here’s what analysts are saying about them:

Breville Group Ltd (ASX: BRG)

The first growth share to look at is Breville. It is the leading appliance manufacturer behind a range of popular brands. These include Sage, Kambrook, and of course Breville.

Breville has been a quiet achiever over the last decade, generating strong sales and earnings growth and delivering stellar returns for investors without much fanfare.

This has been underpinned by a combination of smart bolt on acquisitions, its consistent investment in research and development, and its expansion into new territories.

And while trading conditions aren’t easy at the moment and could weigh on its near term performance, the long term looks as bright as ever. In fact, the team at Morgans believes the company is “positioned to deliver double-digit sales growth consistently over the next few years as it grows its market share, notably in geographies into which it has recently launched.”

In light of this, the broker currently has an add rating and $25.00 price target on Breville’s shares.

Nitro Software Ltd (ASX: NTO)

Another ASX growth share to consider is Nitro. It is a growing provider of document productivity software to businesses large and small globally. 

Unfortunately, Nitro’s shares have been absolutely smashed this year. This has been driven by the market’s aversion to loss making stocks, weakness in the tech sector, and a disappointing guidance downgrade.

The team at Goldman Sachs is sticking with the company and has been urging investors to take advantage of the weakness in the Nitro share price by picking up shares while they’re down. Particularly given that the broker continues “to see NTO as an undervalued global growth opportunity and highlight that the company now trades at ~12x FY24E EV/EBITDA on a capitalisation-adjusted basis.”

As a result of this bullish view, Goldman has a buy rating and $2.05 price target on its shares.

The post Here are 2 exciting ASX growth shares tipped as buys by analysts appeared first on The Motley Fool Australia.

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More reading

• Here are 3 top ASX growth shares that experts are tipping as buys
• 2 exciting small cap ASX shares to buy according to brokers
• 2 excellent ASX growth shares to buy now according to brokers
• Here are the top 10 ASX 200 shares today
• Here are the top 10 ASX 200 shares today

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 recommended Nitro Software Limited. 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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The Monger Gold Ltd (ASX: MMG) share price has been soaring lately, but could it have more joy ahead?

This ASX lithium share has lifted nearly 121% in a month, closing 8.86% higher on Friday at 43 cents.

Let’s take a look at what is going on at Monger Gold.

Could the US climate legislation help?

Monger Gold may be exploring gold, copper and zinc, but it is also intent on playing a role in the lithium future.

On Thursday, Monger shares soared on news it had secured an exclusive option to take over the Brisk Lithium Project.

This mine is located in the James Bay Lithium Project in Quebec, Canada and hosts pegmatite outcrops.

Monger sees this project as an opportunity to cash in on a huge climate bill that recently passed the United States Congress.

Commenting on the latest acquisition this week, CEO Adam Ritchie said:

For Monger, this deal solidifies the foundational lithium asset set. In combination with the
Scotty Lithium Project in Nevada, all three main lithium resource types are now covered being brine, sedimentary and hard rock.

This places Monger in a prime position to take advantage of legislation recently passed by the US congress, enforcing a minimum level of locally sourced raw materials within the North American battery supply chain.

In May, the company signed an agreement to acquire the Scotty Lithium Project in Southern Nevada.

In addition, multiple ASX lithium shares have soared this week as United States President Joe Biden signed legislation labelled the “biggest step forward on climate ever”.

As my Foolish colleague Bernd reported, this Bill includes an extension on tax credits for new electric vehicles (EVs). The Bill specifies the critical minerals for these EV batteries must come from the US or a nation with a free trade agreement with the US.

Monger share price snapshot

The Monger share price has surged 79% in a year and nearly 105% year to date.

In comparison, the S&P/ASX Materials Index (ASX: XMJ) has climbed 0.11% in a year and lost 1.28% year to date.

Monger has a market capitalisation of about $17 million based on the current share price.

The post Could this ASX lithium share be set to cash in on Biden’s climate legislation? appeared first on The Motley Fool Australia.

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More reading

• 3 tiny ASX mining shares leaping over 20% on project announcements

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The S&P/ASX 200 Materials Index (ASX: XMJ) lifted 0.82% today, but three ASX mining shares soared much higher.

Astron Pty Ltd (ASX: ATR), Cobre Ltd (ASX: CBE), and Oceana Lithium Ltd (ASX: OCN) all rocketed ahead today.

So why did these ASX mining shares have such a great day?

Cobre

The Cobre share price soared 28.5% today. Cobre’s share price has exploded 210% over the past five days. Cobre is exploring copper in Botswana and Western Australia. Investors appear to be buying up Cobre shares on the back of two positive announcements this week. On Tuesday, Cobre revealed drilling had intersected with a “new significant copper intersection” at the Ngami Copper Project in Botswana. Furthermore, Cobre revealed it had received notice of renewal on five exploration licences yesterday.

Astron

The Astron share price surged nearly 17% today. The company is developing the Donald Mineral Sands and Rare Earth project in the Murray Basin, Victoria. This is said to be one of the biggest zircon and titanium resources in the world. On Thursday, Astron provided an update on this project.

A preliminary estimate of phase one operations over a 35-year time frame profile is 250,000 to 300,000 tonnes per annum of heavy mineral concentrate and 7,000 to 10,000 tonnes per annum of Renewable Electronic Energy Coin (REEC).

Meanwhile, as my Foolish colleague Tony reported on Wednesday, one expert has singled out Astron as an ASX share that is “clearly under the radar”.

Collins Street Asset Management chief investment officer Vasilios Piperoglou said:

They have a very large, I believe one of the world’s largest, undeveloped zirconium and rare earth projects. It has a potential 50-year mine life. You could argue it’s a tier-one asset in a tier-one jurisdiction.

Oceana Lithium

The Oceana Lithium share price rocketed 17% on Friday. Oceana is exploring lithium in Ceara, Brazil, and the Northern Territory. Oceana’s share price has lifted 18% this week despite no news from the company. However, last week Oceana advised the market it had started fieldwork at two lithium projects in Brazil and Australia. At the flagship Solonopole project in Brazil, Oceana is exploring the “highly prospective” Lapinha zone to follow up high-grade lithium surface samples. Oceana has also commenced fieldwork at the Mt Denison tenement in the Northern Territory.

This week was a positive week for ASX lithium shares amid United States President Joe Biden signing a big spending climate bill. The legislation stipulates critical minerals for EV batteries must be sourced from either North America or a country with a free trade agreement with the US.

The post These 3 ASX mining shares rocketed more than 15% on Friday appeared first on The Motley Fool Australia.

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More reading

• Guess which ASX copper share has exploded 182% this week?
• ‘Clearly under the radar’: Expert reveals hidden gem ASX share he’s holding
• This ASX lithium share is surging 45% today. What’s going on?
• 3 ASX mining shares rocketing higher today on new finds
• Cobre share price zooms 40% higher on new copper discovery

Motley Fool contributor Monica O’Shea 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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The most recent peak in the iron ore price was in March at about US$160 per tonne. Since then, the commodity’s value has fallen in a very jagged line to trade just above US$100 per tonne today.

As is usual, the major ASX mining shares have fallen alongside the iron ore price.

Since March, the BHP Group Ltd (ASX: BHP) share price has dropped 17.5%. Rio Tinto Limited (ASX: RIO) shares have fallen 22%. The Fortescue Metals Group Limited (ASX: FMG) share price has lost 1.3%.

Analysts at Trading Economics forecast iron ore to trade at about US$109 by the end of the September 2022 quarter. In a year’s time, the team expects the iron ore price to be about US$97 per tonne.

But Saxo Bank country head of direct sales, David Harvie, isn’t worried. Harvie says China’s demand for iron ore is a long-term trend given the country’s ongoing industrialisation. He reckons it’s only a matter of time before the world’s largest consumer of iron ore begins chewing it up at a strong pace again.

Broker says China will ‘fire up again’

In an interview with The Motley Fool, Harvie said:

When we talk to our China strategists and when we talk to our APEC strategists, I think they make a really valid point. And the point would be it’s not if, but when the largest consumer of iron ore in the world fires up again, being China.

Building cities the size of Brisbane once a month, or whatever they’re doing over there, that ain’t going anywhere either. Our house theory is that it is a demand question, and that should be satisfied by virtue of some of those large economies kicking off again.

ANZ reckons the iron ore price has ‘limited upside’

ANZ commodity strategists Daniel Hynes and Soni Kumari provided their view on the iron ore price in a note released yesterday.

Hynes and Kumari wrote:

We see limited upside in iron ore prices. A stabilisation in the Chinese property market should support sentiment and prices through Q3 and into year end. We expect prices to trend lower in Q4 and into 2023 as the impact of China’s stimulus measures peters out and iron ore demand weakens. We ultimately see prices at the end of 2023 sitting under USD100/t as the market tightness eases.

China’s shadow over commodity markets remains large. That raises the risk that weak economic data will create increasing headwinds for the sector. Those perceived risks don’t completely reflect what we are seeing on the ground.

Stimulus measures announced earlier this year raised hopes that commodity demand would rebound strongly in H2 2022. However, China’s credit impulse is slowing again in response to the restrictions involved in its zero-COVID strategy. This is normally a signal of weaker demand for commodities, but the relationship may not be as straightforward as it was in the past.

What’s next for the big three ASX mining shares?

BHP impressed the market with its full-year FY22 results this week.

BHP reported a 16% increase in its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) to a record US$40,634 million.

The Big Australian will pay a US$1.75 per share final dividend.

Rio Tinto reported its half-year results on 28 July.

Fortescue is the only company out of the big three ASX mining shares yet to report this earnings season. It is scheduled to report its FY22 figures on Monday 29 August.

The post Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker appeared first on The Motley Fool Australia.

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More reading

• 1 factor that could drag on Fortescue Future Industries’ green dream
• Are Rio Tinto shares a buy? See what top brokers are saying
• The OZ Minerals share price has barely moved since rocketing on BHP’s takeover bid. So, what now?
• Here’s the BHP dividend forecast through to 2026
• These top ASX dividend shares have been tipped as buys by analysts

Motley Fool contributor Bronwyn Allen has positions in BHP Billiton Limited and Fortescue Metals Group Limited. 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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The S&P/ASX 200 Index (ASX: XJO) ended the week with a wobbly performance despite strong gains among energy shares. The index closed Friday’s session 0.02% higher at 7,114.5 points.

That marks a 1.16% gain for the week and the ASX 200 closed four out of five sessions in the green.

The S&P/ASX 200 Energy Index (ASX: XEJ) soared 4% on Friday, likely on the back of rising oil prices and concerns a European energy crisis could increase demand for coal. The Brent crude oil price lifted 3.1% to US$96.59 a barrel overnight while the US Nymex crude oil price rose 2.7% to US$90.50 a barrel.

It wasn’t such a good day on the S&P/ASX 200 Utilities Index (ASX: XUJ). It fell 0.7% as AGL Energy Limited (ASX: AGL) released its earnings and APA Group (ASX: APA) revealed a $32 million impairment.

Speaking of earnings, TPG Telecom Ltd (ASX: TPG) shares slumped on the telco’s results while Cochlear Limited (ASX: COH) shares lifted on the results of the healthcare giant.

Never fear if you missed out on much of today’s earnings excitement; there’s plenty more to come next week.

At the end of Friday’s session, five of the ASX 200’s 11 sectors were in the green.

But which share outperformed all others to be crowned the final daily top performer of this week? Let’s take a look.

Top 10 ASX 200 shares countdown

Today’s top performing ASX 200 share was none other than Santos Ltd (ASX: STO). It lifted alongside its home sector on Friday. Find out more about the company and what it’s been up to here.

Today’s biggest gains were made by these ASX shares:

ASX-listed company	Share price	Price change
Santos Ltd (ASX: STO)	$7.52	6.36%
Whitehaven Coal Ltd (ASX: WHC)	$7.36	6.2%
Coronado Global Resources Ltd (ASX: CRN)	$1.845	5.13%
Woodside Energy Group Ltd (ASX: WDS)	$33.50	4.17%
New Hope Corporation Ltd (ASX: NHC)	$4.93	4.01%
Sims Ltd (ASX: SGM)	$16.04	3.68%
Newcrest Mining Ltd (ASX: NCM)	$19.35	3.64%
Beach Energy Ltd (ASX: BPT)	$1.695	3.35%
Magellan Financial Group Ltd (ASX: MFG)	$14.43	3.15%
Medibank Private Ltd (ASX: MPL)	$3.65	2.82%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• Is the AGL share price in the buy zone following the company’s latest results?
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Why is the Whitehaven Coal share price leaping 7% to a record high?
• Why is the Santos share price soaring 6% on Friday?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear Ltd. The Motley Fool Australia has positions in and has recommended APA Group. The Motley Fool Australia has recommended Cochlear Ltd. and TPG Telecom Limited. 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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The Global Lithium Resources Ltd (ASX: GL1) share price edged higher on Friday.

During the day, the lithium explorer’s shares rose to an intraday high of $1.93 before pulling back before market close. Its shares finished 1.87% higher at $1.905 apiece.

Let’s take a look at what news surrounded the company today.

What did Global Lithium announce?

Investors drove up the Global Lithium share price after the company provided the ASX with a positive update this afternoon. 

In its release, Global Lithium announced it received positive initial metallurgical test work results at the Marble Bar Lithium Project (MBLP).

The site is located around 150km southeast of Port Hedland in the Pilbara region of Western Australia. MBLP is situated close to major roads, with direct links into Port Hedland for shipping bulk commodities, including spodumene concentrate.

Global Lithium has a 100% controlling interest in MBLP.

The company rendered the services of GR Engineering Services Ltd (ASX: GNG) specialists to oversee the test work program.

The results included 5.9% of lithium oxide (Li 2O) spodumene concentrates with a very high recovery rate of 76%.

Global Lithium advised it was currently working towards completion of the current 60,000 metre reverse drilling programme at the MBLP. 

Management plans to conduct further metallurgical test work, focusing on optimising flowsheet options to improve concentrate grade and Li 2O recovery.

Management commentary

Global Lithium managing director Ron Mitchell had this to say:

These initial results from the ongoing metallurgical test work from our MBLP are very promising for the future of this project. The grades and recoveries produced from this test work from diamond core can meet industry expectations and will further support the prospect of MBLP becoming a standalone lithium operation in the years ahead.

Ongoing project development and test work at MBLP will focus on tailoring the flow sheet to match the evolving lithium market and customer expectations.

… Global Lithium notes that the results of this test work are very positive in that they indicate that samples from the Marble Bar Lithium deposit can be used to generate quality spodumene concentrates.

Global Lithium share price snapshot

Over the last 12 months, the Global Lithium share price has rocketed by more than 430%.

Its shares reached an all-time high of $2.79 in April before market volatility saw a strong retracement across the sector.

Based on today’s price, Global Lithium presides a market capitalisation of around $296 million.

The post Global Lithium shares edged higher today amid ‘very promising’ results appeared first on The Motley Fool Australia.

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More reading

• Why are ASX lithium shares having such a cracking start to the week?
• Why is the Global Lithium share price rocketing 13% on Wednesday?
• Why are ASX lithium shares having such a top run on Wednesday?
• 2 ASX lithium shares lifting on new discoveries today
• ‘Great results’: Here’s why the Global Lithium share price is leaping 6% today

Motley Fool contributor Aaron Teboneras 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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It’s been a big week for the AGL Energy Limited (ASX: AGL) share price, but unfortunately, not in a good way.

AGL ended the trading week with the release of its full-year earnings report for FY22. Investors haven’t responded kindly through, with the AGL share price closing 3.9% lower on Friday at $7.84 a share.

This latest move means that AGL is now down almost 8% over the past five trading days. But the company has still been a strong performer over 2022 thus far, with a recorded year-to-date gain of 24%.

So as we covered this morning, AGL recorded a 20.8% rise in revenues to $13.22 billion. However, underlying earnings before interest, taxes, depreciation, and amortisation (EBITDA) fell 27% to $1.21 billion.

Underlying profit after tax was also down 58% to $225 million. AGL also slashed its final dividend to 10 cents per share. That’s down significantly from last year’s dividend of 28 cents.

But now we know what AGL’s FY22 books look like, could the company be a buy today?

Is the AGL share price in the bargain bin yet?

Well, one ASX broker isn’t going that far. According to reporting in The Australian on Friday, Sarah Xie, analyst at Moody’s, was not enamoured with AGL’s results. Even so, she still said they “nevertheless sit within Moody’s expectations”.

Xie reckons things could be looking up for the energy company, stating she “expects earnings pressures to ease in FY23-24” as the company’s pricing hedges roll off. This means it can receive higher prices for its energy. However, Xie also noted that “AGL’s heightened exposure to ESG and policy risks remain a key challenge”.

Here’s some more of what she said:

The company’s generation earnings reduced due to lower realised wholesale energy prices from its hedge positions, generator outages at its increasingly unpredictable aging thermal assets, insufficient insurance coverage for these outages, as well as increased fuel cost for the gas peakers…

The cost competitiveness of AGL’s thermal generation and its ability to source fuel at contained cost will continue to remain its strengths – which supports cash flows as the company navigates uncertainties regarding the board and management renewal, and the direction of its strategic review.

So this view paints a potentially positive future for AGL. But it’s hardly what AGL investors might call a ringing endorsement, which would certainly have been welcome after Friday’s share price moves.

 At the last AGL share price, the ASX 200 energy company had a market capitalisation of $3 billion, with a trailing dividend yield of 6.41%.

The post Is the AGL share price in the buy zone following the company’s latest results? appeared first on The Motley Fool Australia.

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More reading

• Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• Is this ASX 200 share ESG-challenged or a recession-proof buy?
• Everything you need to know about the latest AGL dividend
• AGL share price dips after 58% profit slash

Motley Fool contributor Sebastian Bowen 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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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:

Blackmores Ltd (ASX: BKL)

According to a note out of Credit Suisse, its analysts have upgraded this health supplements company’s shares to an outperform rating with a $90.00 price target. Although the broker was not overly impressed with Blackmores’ full year results, it believes that its shares have fallen to an attractive level with more upside potential than downside risk. The Blackmores share price is trading at $71.09 today.

CSL Limited (ASX: CSL)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this biotherapeutics company’s shares to $329.50. Macquarie was pleased with the company’s guidance for FY 2023 and believes it is well-placed to build on this in FY 2024. Particularly given improving trading conditions and the new Rika plasma collection platform. The CSL share price is fetching $294.63 on Friday.

Pro Medicus Limited (ASX: PME)

Analysts at Morgans have retained their add rating and lifted their price target on this health imaging technology company’s shares to $58.18. This follows the release of a strong result for FY 2022 earlier this week. Morgans was particularly pleased with the company’s margins, which were well ahead of expectations. It feels this highlights the operating leverage of the business. The broker also notes that the company’s outlook remains as strong as ever, highlighted by an increasing number of requests for tender proposals. The Pro Medicus share price is trading at $54.00 today.

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

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More reading

• Buy this ASX 200 company as its costs are actually falling: Firetrail
• Blackmores share price dives 10% despite revenue boost
• Here are the top 10 ASX 200 shares today
• Why Blackmores, Codan, Lake Resources, and Xero shares are falling today
• Why CSL, IPH, Renascor, and Treasury Wine shares are pushing higher

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 positions in and has recommended CSL Ltd. and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Blackmores Limited. 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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