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 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:

Galan Lithium Ltd (ASX: GLN)

According to a note out of Macquarie, its analysts have retained their outperform rating and 60 cents price target on this lithium developer's shares. The broker highlights that the company has recently raised funds, strengthening its balance sheet. It believes these funds will be sufficient while the company completes its financing facility negotiations with mining giant Glencore. The Galan Lithium share price is trading at 41 cents today.

Platinum Asset Management Ltd (ASX: PTM)

A note out of Bell Potter reveals that its analysts have upgraded this fund manager's shares to a buy rating with an improved price target of $1.20. The broker has been updating its estimates to reflect fund outflows and reductions in its cost base from its turnaround program. Bell Potter expects the latter to have a very positive impact on its earnings and has upgraded its estimates materially in FY 2025 and FY 2026. Overall, the broker believes the turnaround program means that the risk/reward has now shifted to the upside. The Platinum share price is fetching $1.08 this afternoon.

Premier Investments Limited (ASX: PMV)

Analysts at Citi have retained their buy rating and lifted their price target on this retail giant's shares to $36.00. This follows the release of a solid half-year result earlier this week which was ahead of guidance. Citi is also feeling positive about the outlook of Smiggle, noting plans for a store rollout in Indonesia. In addition, it sees the Peter Alexander expansion into the UK market as the first of many such expansions. The Premier Investments share price is trading at $32.40 on Thursday.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Premier Investments. 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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