Brokers name 3 ASX shares to buy now 26 May 2023
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It has been another busy week for Australia’s top brokers. This has led to the release of a large 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:
Chalice Mining Ltd (ASX: CHN)
According to a note out of Bell Potter, its analysts have retained their speculative buy rating and $12.00 price target on this mineral exploration company’s shares. This follows the completion of a $70 million placement. Bell Potter was pleased with the company’s decision to strengthen its balance sheet and sees significant potential from its Gonneville deposits. The broker also sees the latter as an attractive option for mining giants to get a piece of. The Chalice Mining share price is trading at $7.09 today.
Costa Group Holdings Ltd (ASX: CGC)
Another note out of Bell Potter reveals that its analysts have retained their buy rating and $3.00 price target on this horticulture company’s shares. Bell Potter was pleased with the company’s annual general meeting update and believes it points to a very strong performance this year. The Costa share price is fetching $2.63 this afternoon.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Goldman Sachs have retained their buy rating on this wine giant’s shares with a trimmed $14.20 price target. While Goldman was a touch disappointed with the company’s FY 2023 guidance, it believes the selloff has been overdone. So much so, the broker feels the share price weakness has created an opportunity to further accumulate a stock that has a long-term moat. The Treasury Wine share price is trading at $11.72 on Friday.