With most brokers taking a break over the 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:
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Pilbara Minerals Ltd (ASX: PLS)
According to a note from Bell Potter, its analysts upgraded this lithium miner's shares to a buy rating with a $2.95 price target.
The broker made the move for a couple of key reasons. The first was on valuation grounds believing that a sharp pullback in its share price has created a buying opportunity for investors. Especially now that short interest in the lithium miner is falling.
Another key reason to invest, according to Bell Potter, is the improving outlook for lithium. Its analysts believe that there could be lithium supply deficits from 2026, which would be a huge boost to prices.
And with Pilbara Minerals having a very strong balance sheet, Bell Potter feels that it is well-placed to respond. The Pilbara Minerals share price is trading at $2.24 this morning.
Pro Medicus Limited (ASX: PME)
A note from Goldman Sachs revealed that its analysts retained their buy rating on this health imaging technology company's shares with an improved price target of $278.00.
The broker believes that Pro Medicus is one of Australia's best global growth companies. This is based partly on its belief that further Visage 7 adoption is a matter of when not if. Goldman is forecasting a strong increase in the value and cadence of contract wins over time.
And while it acknowledges that Pro Medicus' shares are not cheap, trading on 114x FY26E EV/EBITDA, the broker feels that this premium is justified due to its revenue/margin outlook, unique cloud offering, and significant long-term opportunity. The Pro Medicus share price is fetching $250.14 on Friday.
Super Retail Group Ltd (ASX: SUL)
Analysts at Morgans retained their add rating on this retail group's shares with a trimmed price target of $18.55. This followed the release of a first-quarter update from the BCF, Rebel, Macpac, and Supercheap Auto owner.
Morgans notes that the update was a touch softer than expected. This has led to its analysts trimming their earnings forecasts to reflect the challenging trading conditions in the auto parts industry.
Nevertheless, the broker remains positive on its outlook and sees plenty of value on offer with its shares. In addition, Morgans expects Super Retail's shares to offer 6%+ fully franked dividend yields in the near term. The Super Retail share price is trading at $15.34 today.
