Brokers name 3 ASX shares to buy

Brokers have named these ASX shares as buys…

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With the majority of brokers across Australia taking a well-earned break, broker notes are few and far between at present.

In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here are three ASX shares rated as buys:

BHP Group Ltd (ASX: BHP)

According to a note out of Macquarie, its analysts have retained their outperform rating and $52.00 price target on this mining giant’s shares. Macquarie highlights that industry data appears to indicate improving demand for iron ore. In addition, the broker notes that BHP remains it top pick among the major miners. It estimates that the company’s shares are trading on a free cash flow yield in the high teens, which bodes well for dividends. The BHP share price is trading at $41.47 this afternoon.

NEXTDC Ltd (ASX: NXT)

Another note out of Macquarie reveals that its analysts have retained their outperform rating and $16.10 price target on this data centre operator’s shares. This follows news that NEXTDC has acquired its first edge data centre in Maroochydore on the Sunshine Coast. Macquarie sees a big opportunity in edge data centres, which service regional areas and have the potential to offer greater returns than current centres in capital cities. The NEXTDC share price is fetching $12.86 on Friday afternoon.

Qantas Airways Limited (ASX: QAN)

Analysts at Citi have retained their buy rating but trimmed their price target on this airline operator’s shares to $5.86. Although Qantas’ trading update revealed that it will be posting a big first half loss, Citi remains positive and believes the risk/reward on offer remains attractive. Particularly given how at these levels, the broker thinks the International recovery is not priced into its shares. The Qantas share price is trading at $4.97 today.

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*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro owns NEXTDC 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 Bruce Jackson.

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