Image source: Getty Images
Are you looking for some new additions to your portfolio in FY 2025? If you are, then read on.
That’s because listed below are 10 ASX shares that have been named as buys for the new financial year. They are as follows:
Boss Energy Ltd (ASX: BOE)
If you are looking for exposure to the booming uranium market, then Boss Energy could be the ASX share to do it with. Last month, Bell Potter put a buy rating and lofty $6.35 price target on its shares.
Capricorn Metals Ltd (ASX: CMM)
Bell Potter also thinks that this gold miner could be a great option for investors. This is because it “is a sector leading gold producer with a strong balance sheet, a management team with an excellent track record of delivery and clear organic growth options.” The broker has a buy rating and $6.53 price target on its shares.
One of Australia’s highest quality companies is arguably biotherapeutics giant CSL. After a reasonably underwhelming period, Macquarie thinks that the company is about to return to form. So much so, it is forecasting mid-teen earnings growth for the next five years. Macquarie has an outperform rating and $330.00 price target on the ASX share.
Looking for some tech sector exposure? Morgan Stanley thinks this location technology company’s shares could be in the buy zone. The broker has an overweight rating and $17.50 price target on them.
Lovisa Holdings Ltd (ASX: LOV)
This fashion jewellery retailer could be an ASX share to buy in FY 2025. A number of brokers are bullish on Lovisa due to its global expansion. For example, analysts at Bell Potter have a buy rating and $36.00 price target on its shares.
Lynas Rare Earths Ltd (ASX: LYC)
They say it’s best to buy ASX mining stocks at the bottom of the cycle. So, with rare earths prices at depressed levels, a number of analysts think now could be the time to pounce on this ASX share. One of those is Ord Minnett, which put a buy rating and $8.00 price target on its shares at the end of last month.
Qantas Airways Limited (ASX: QAN)
Goldman Sachs thinks this airline operator’s shares are so undervalued that it has them on its conviction list. The broker currently has a buy rating and $8.05 price target on the Flying Kangaroo’s shares.
Telstra Group Ltd (ASX: TLS)
UBS thinks that this telco giant could be a top ASX share to buy now. At the end of last month, the broker put a buy rating and $4.40 price target on its shares. It also expects fully franked dividend yields of 4.9%+ this year and next.
Woolworths Group Ltd (ASX: WOW)
Another ASX share that Goldman Sachs is very bullish on is Woolworths. It has the supermarket giant on its conviction list with a buy rating and $40.20 price target.
Finally, another member of Goldman’s coveted conviction list is cloud accounting platform provider Xero. The broker has a buy rating and $180.00 price target on its shares. Its analysts “see Xero as very well-placed to take advantage of the digitisation of SMBs globally.”