Brokers name 3 ASX shares to buy today

With most brokers taking a break over the holiday period, there haven't been many notes hitting the wires.

But never fear! Summarised below are three recent recommendations that remain very relevant today. Here's what brokers are saying about these ASX shares:

Deep Yellow Ltd (ASX: DYL)

According to a note out of Bell Potter, its analysts retained their speculative buy rating on this uranium developer's shares with a trimmed price target of $1.70. This followed news that the company has delayed its final investment decision for the Tumas uranium project in Namibia. Although the broker was disappointed with the delay, it remains positive on Deep Yellow. Especially given its belief that the company is attractively positioned in a rising uranium bull market and capable of delivering the next wave of supply into an increasingly tight market. The Deep Yellow share price is trading at $1.20 on Friday morning.

Northern Star Resources Ltd (ASX: NST)

Another note out of Bell Potter revealed that its analysts retained their buy rating and $19.55 price target on this gold miner's shares. This was in response to news that the company has signed an agreement to acquire gold developer De Grey Mining Limited (ASX: DEG) in a $5 billion deal. Bell Potter notes that while Northern Star increases its risk profile in the short term with this deal, it sees longer term benefits. Particularly given that without the acquisition of De Grey, the broker believes that after reaching production of 2Moz in FY 2027, Northern Star's group gold production would start to fall as existing ore reserves are consumed. In addition, Bell Potter highlights the low forecast all-in sustaining cost base of De Grey Mining's Hemi deposit as a reason to be positive on the deal. The Northern Star share price is fetching $16.59 at the time of writing.

Telstra Group Ltd (ASX: TLS)

Analysts at Goldman Sachs retained their buy rating and $4.50 price target on this telco giant's shares. According to the note, the broker was supportive of the company's decision to sell its stake in Foxtel to DAZN Group in exchange for $128 million cash for the repayment of shareholder loans and a 3% shareholding in the media company. Goldman also sees potential for further divestments in the future. It highlights that Telstra has a meaningful medium term opportunity to crystallise value through monetising its InfraCo Fixed assets, which it estimates could be worth between $22 billion to $33 billion. It also sees a strong rationale for monetising the recurring NBN payment stream, which it feels could be worth in the region of $14.5 billion to $17.9 billion. The Telstra share price is trading at $4.04 on Friday.

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

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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra 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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