It was another busy week for Australia's top brokers. This has led to the release of a 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:
According to a note out of Bell Potter, its analysts have retained their buy rating and $4.70 price target on this uranium producer's shares. Ahead of the release of Boss Energy's second quarter update, Bell Potter revealed that it is expecting a significant quarter on quarter increase in uranium production. While this is expected to be achieved with costs of A$69.71/lb (US$45/lb), these costs are expected to trend lower in the second half as new columns ramp up. In light of this, the broker continues to view Boss Energy as being attractively priced versus peers and feels that a re-rating could be coming if production and costs track in-line with its expectations during the second quarter. It also maintains its conviction in uranium and nuclear power over the coming 12 months. The Boss Energy share price ended the week at $2.86.
A note out of Goldman Sachs reveals that its analysts have initiated coverage on this biotechnology giant's shares with a buy rating and $325.40 price target. According to the note, Goldman Sachs is positive on CSL's outlook. This is due to its belief that immunoglobulins (IG) sales will grow in the double digits each year through to FY 2028. It expects this to be underpinned by low penetration and ~100 basis points year on year market share gains. Goldman also highlights that its channel checks indicate that CSL's competitive advantages are intact, with the expansion in fractionation capacity set to enhance its superior cost profile and supply reliability. This is expected to lead to margin expansion and strong earnings growth in the coming years. The CSL share price was fetching $275.06 at Friday's close.
Analysts at Morgans have retained their add rating and $3.25 price target on this lithium miner's shares. According to the note, the broker notes that lithium prices have been relatively stable over the past quarter and spot prices are now a touch higher than three months ago. However, despite this positive backdrop, it points out that lithium shares like Pilbara Minerals have been sold off by the market. As a result, Morgans believes it has created a buying opportunity for investors and has named the company as its top pick in the space. The Pilbara Minerals share price ended the week at $2.39.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Goldman Sachs Group. The Motley Fool Australia has recommended CSL. 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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