Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

| More on:
Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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:

IDP Education Ltd (ASX: IEL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating on this language testing and student placement company's shares with a trimmed price target of $21.75. Goldman notes that IDP Education released a market update last week which revealed that it is being negatively impacted by a more restrictive policy environment in its key destination countries. While the broker acknowledges that the trading update was soft, it believes it should help investors better frame the earnings base for FY 2025. And with Goldman forecasting IDP Education's earnings to rebound in FY 2026, its analysts think that now could be a good time for patient investors to snap up its shares. The IDP Education share price ended Friday's session at $15.33.

Lovisa Holdings Ltd (ASX: LOV)

A note out of Bell Potter reveals that its analysts have retained their buy rating and $36.00 price target on this fashion jewellery retailer's shares. Bell Potter notes that Lovisa has announced that its highly regarded CEO, Victor Herrero, will be leaving next year. While the broker sees some leadership transition risk, it was pleased with his replacement John Cheston, who is the current CEO of Smiggle. It believes the new CEO appointment aligns well to drive the next leg of growth and lift the penetration of a global business built by Herrero. In addition, its analysts anticipate a smooth transition over the next 12 months and expect Cheston's background to assist continued execution in Lovisa's ~40 markets globally. The Lovisa share price was fetching $31.25 at Friday's close.

Xero Ltd (ASX: XRO)

Analysts at Macquarie have retained their outperform rating and $180.70 price target on this cloud accounting platform provider's shares. Macquarie notes that Xero has announced price increases and plan updates in the United Kingdom that will take place in September. The broker was pleased with the changes, which are mirroring those undertaken in the Australia market recently. Macquarie believes the new plans will support a higher average revenue per user metric in the UK market through the simplification of its offering and increased bundling. The Xero share price ended the week at $129.29.

Motley Fool contributor James Mickleboro has positions in Lovisa and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Idp Education, Lovisa, Macquarie Group, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Broker Notes

These ASX shares could rise 25% to ~50%

Big returns could await buyers of these shares according to analysts.

Read more »

A male sharemarket analyst sits at his desk looking intently at his laptop with two other monitors next to him showing stock price movements
Broker Notes

Brokers name 3 ASX shares to buy now

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

Read more »

rising asx share price represented by man with arms raised against blackboard featuring images of dollar notes
Broker Notes

Why these 3 ASX 200 shares just earned substantial broker upgrades

Top brokers just increased their share price forecasts for these three ASX 200 shares. But why?

Read more »

Two smiling men in high visibility vests and yellow hardhats stand side by side with a large mound of earth and mining equipment behind them smiling as the Carnaby Resources share price rises today
Broker Notes

See why this broker just upgraded South32 shares to a buy

Commodity prices continue to create tailwinds for ASX stocks.

Read more »

Keyboard button with the word sell on it.
Broker Notes

Sell these ASX 200 stocks now: Goldman Sachs

The broker is warning investors that these stocks could tumble from current levels.

Read more »

A man rests his chin in his hands, pondering what is the answer?
Broker Notes

Can Soul Patts shares beat the market over the next 12 months?

One leading broker believes the investment house could deliver good returns.

Read more »

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Broker Notes

3 under the radar ASX shares to buy this month

Analysts at Bell Potter think these lesser known shares could be top options.

Read more »