Wed Sep 18 01:20:56 UTC 2024: ## Top Brokers Recommend These ASX Shares: Austal, New Hope, and Perseus

**Sydney, Australia** – Several prominent Australian brokers have revised their financial models and recommendations, resulting in a flurry of broker notes this week. Three ASX shares have been named as buys by analysts, who are feeling bullish about their prospects.

**Austal (ASX:ASB)**
Bell Potter has maintained its buy rating on Austal, increasing the price target to $3.15. This follows a significant US$450 million contract from General Dynamics Electric Boat, which will see Austal expand its shipyard to support the U.S. Navy Submarine Industrial Base (SIB). Bell Potter believes this development will diversify Austal’s operations, drive long-term revenue growth, and solidify its position in the US naval industry.

**New Hope (ASX:NHC)**
Morgans has upgraded New Hope to an ‘add’ rating, trimming the price target to $5.20. The broker believes that the coal miner’s shares have been unfairly sold off due to bearish sentiment in the steel industry, leaving its shares trading at a significant discount to their net present value. Morgans sees this as an opportunity, highlighting New Hope’s defensive attributes and strong asset base, making it attractive for buy-and-hold or value investors.

**Perseus Mining (ASX:PRU)**
UBS has initiated coverage on Perseus with a buy rating and a $3.00 price target. The broker is optimistic about the gold price outlook and Perseus’s mining portfolio, particularly the Yaoure gold mine in the Ivory Coast, which is expected to generate strong production and competitive all-in costs through the end of the decade. Coupled with potential for capital returns, UBS views Perseus as a strong way to gain exposure to the elevated gold price.

These brokers’ buy recommendations highlight the potential for growth and value in these ASX 200 shares. However, it’s important to note that past performance is not indicative of future returns and investment decisions should always be made with careful consideration of individual circumstances and risk tolerance.

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