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:
Lovisa Holdings Ltd (ASX: LOV)
According to a note out of Bell Potter, its analysts have retained their buy rating on this fashion jewellery retailer’s shares with an improved price target of $26.50. The broker has been looking into the company’s opportunity in China following the launch of its first store at the end of 2023. Bell Potter highlights that the latest customer reviews for Lovisa from Mainland China on the dominant social media app, Xiaohongshu, have been positive. This bodes well for the company given that the market is 25 times larger than Australia. The Lovisa share price ended the week at $24.37.
A note out of Macquarie reveals that its analysts have retained their outperform rating and $9.95 price target on this energy producer’s shares. This follows news that its merger talks with Woodside Energy Group (ASX: WDS) have ended without a deal being reached. Macquarie isn’t fazed by the news, believing there’s still significant value in its assets that is being overlooked. In addition, it suspects that Santos may soon reinstate its buyback program. The Santos share price was fetching $7.32 on Friday.
WiseTech Global Ltd (ASX: WTC)
Analysts at Morgan Stanley have retained their overweight rating and $85.00 price target on this logistics solutions company’s shares. Morgan Stanley highlights that the market is expecting a strong half year result from WiseTech this month. It suspects that if the company beats the market’s estimate of 30% revenue growth, its shares could jump. Though, it warns that softer than expected revenue growth could mean the opposite for its shares. The WiseTech share price ended the week at $77.15.