Top brokers slap buy ratings on these 3 ASX shares

The BHP Billiton Limited (ASX:BHP) share price could get a lift after a leading broker slapped a buy rating on it. Here are two more shares with upgrades…

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It appears as though brokers across Australia have been busy crunching numbers and adjusting their discounted cash flow models once again.

This morning there were no less than three research notes with upgrades released this morning. Here are the shares being rated as buys:

Beadell Resources Ltd (ASX: BDR)

A research note out of Macquarie's equities desk reveals that its analysts have upgraded the gold miner to an outperform rating with a 30 cents price target. Although the gold miner released a disastrous quarterly update yesterday, Macquarie appears to believe that it is great value following a sell-off. Its analysts expect a big improvement in its production profile and mine life extensions. Whilst it does look cheap at today's price, I wouldn't be a buyer unless I saw a huge improvement in its production and all-in sustaining costs.

BHP Billiton Limited (ASX: BHP)

The mining giant has been upgraded to a buy rating with a $28.50 price target according to a research note out of Citi. Today's upgrade is the result of its weak share price performance and the leading investment bank upgrading its commodity price forecasts. While I think BHP Billiton is one of the better option in the resources sector, I would suggest investors hold off until there are improvements in iron ore and oil prices.

Coca-Cola Amatil Ltd (ASX: CCL)

According to a research note from Credit Suisse, the embattled beverage company's shares have been upgraded to an outperform rating with a $10.30 price target. Credit Suisse doesn't believe that Coca-Cola Amatil's disappointing trading update is related to a structural decline in the company's key product range, but rather a temporary headwind. Furthermore, it believes that the lack of volume growth can be offset through its cost reduction program. I think Credit Suisse make valid points, however I would prefer to wait in order to get in at a cheaper price.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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