Top brokers name 3 ASX shares to buy next week 17 November 2024

Leading brokers have revealed the three ASX shares they are recommending investors buy next week.

Here's what you need to know.

After a volatile week on the Australian share market, leading brokers have revealed the three ASX shares they are recommending investors buy next week.

The brokers say these shares are all trading at attractive valuations and have the potential to deliver strong returns in the year ahead.

Here are the three shares:

1. BHP Group (ASX: BHP)
2. Commonwealth Bank of Australia (ASX: CBA)
3. Fortescue Metals Group (ASX: FMG)

BHP is a global mining company with operations in Australia, the Americas, and Asia. The company is one of the world's largest producers of iron ore, copper, and coal.

CBA is Australia's largest bank. The company provides a wide range of banking and financial services to retail, business, and institutional customers.

FMG is a global iron ore producer. The company has operations in Australia and West Africa.

The brokers say these shares are all trading at attractive valuations and have the potential to deliver strong returns in the year ahead.

BHP is trading at a price-to-earnings ratio of 10.5 times, CBA is trading at a price-to-earnings ratio of 12.5 times, and FMG is trading at a price-to-earnings ratio of 7.5 times.

The brokers say these valuations are all below the average for the ASX 200. They also say these shares have strong growth prospects.

BHP is expected to benefit from strong demand for iron ore from China. CBA is expected to benefit from rising interest rates. FMG is expected to benefit from strong demand for iron ore from China and other emerging markets.

The brokers say these shares are all good long-term investments. They recommend investors buy these shares and hold them for the long term.