Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

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It has been another busy week for Australia's top brokers. This has led to the release of a large 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:

Brickworks Limited (ASX: BKW)

According to a note out of Morgans, its analysts have retained their add rating on this building products company's shares with an improved price target of $26.70. The broker was surprised with the post-results pullback in the Brickworks share price and believes it has created an attractive buying opportunity for investors. Particularly given how at the analyst briefing management commented that the downturn would likely be relatively short, with early signs of improved demand on the back of supply shortages. The Brickworks share price is trading at $24.84 today.

South32 Ltd (ASX: S32)

A note out of Citi reveals that its analysts have upgraded this mining giant's shares to a buy rating with a $3.80 price target. The broker made the move on the belief that the miner's shares will start to rise now that spot commodity prices are higher than expected for FY 2024. The South32 share price is fetching $3.38 on Friday.

Treasury Wine Estates Ltd (ASX: TWE)

Analysts at UBS have retained their buy rating and $13.75 price target on this wine giant's shares. The broker has been looking at the North American market and highlights strong trends in the luxury wine category. It sees this as a positive for Treasury Wine given how a good portion of its revenue in the region comes from the luxury side of the wine market. The Treasury Wine share price is trading at $12.20 this afternoon.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Brickworks. The Motley Fool Australia has positions in and has recommended Brickworks. The Motley Fool Australia has recommended Treasury Wine Estates. 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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