With most brokers taking a break over the Christmas and New Year holiday period, research notes are few and far between right now.
But don't worry! Listed below are three recent broker buy recommendations that still have plenty of upside potential.
Here's why brokers think these ASX shares are in the buy zone:
ResMed Inc. (ASX: RMD)
According to a note out of Macquarie, its analysts have retained their outperform rating on this sleep treatment company's shares with an improved price target of $33.40. Macquarie has been looking at the healthcare sector and its research suggests that ResMed's return on equity could improve more than its peers in the coming years. The broker also believes the Ozempic selloff has been unjustified. The ResMed share price is trading at $25.42 on Wednesday.
TechnologyOne Ltd (ASX: TNE)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this enterprise software provider's shares with a trimmed price target of $18.05. Goldman has been pleased with the successful transitioning of TechnologyOne's customer base to the cloud and its incremental cross-selling. Looking ahead, the broker believes the company is building the case for sustainable 10% to 15% annual recurring revenue growth and sees upside to its 115% net revenue retention target. The TechnologyOne share price is fetching $15.24 on Wednesday.
Woodside Energy Group Ltd (ASX: WDS)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $38.30 price target on this energy giant's shares. According to the note, the broker believes Woodside offers Australia's highest exposure to spot LNG and oil pricing. This is good news given that Goldman expects prices to remain elevated due to structural underinvestment. The Woodside share price is trading at $31.38 today.
