Top brokers name 3 ASX shares to buy next week

Brokers gave the thumbs up to these ASX shares last week. Why are they bullish?

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It was another busy week for Australia's top brokers. This led to the release of a large number of broker notes.

Three ASX 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:

Endeavour Group Ltd (ASX: EDV)

According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating on this drinks company's shares with a trimmed price target of $6.40. Although Goldman acknowledges that Endeavour's first quarter update was a little on the mixed side, it remains positive on the investment opportunity here. The broker believes Endeavour's shares are very attractively priced given its positive outlook and position as a clear consumer staple market leader. The Endeavour share price ended the week at $5.01.

Harvey Norman Holdings Limited (ASX: HVN)

A note out of Citi reveals that its analysts have retained their buy rating and $4.60 price target on this retailer's shares. While Harvey Norman's recent update showed that trading conditions are tough in the retail sector, the broker believes things will soon improve. It expects rising house prices and tax cuts to make things easier in FY 2025. The broker was also pleased with the surprise share buyback. The Harvey Norman share price was fetching $3.69 on Friday.

Sayona Mining Ltd (ASX: SYA)

Analysts at Macquarie have retained their outperform rating on this lithium miner's shares with a trimmed price target of 17 cents. The broker believes Sayona Mining can deliver on its lithium shipments guidance in FY 2024. And while it has trimmed its earnings guidance, it still sees significant value on offer with its shares at current levels. The Sayona Mining share price ended the week at 8.5 cents.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Endeavour Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Harvey Norman, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Harvey Norman and Macquarie 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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