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Top brokers name 3 ASX shares to buy next week

Top brokers have named A2 Milk Company Ltd (ASX:A2M) and these ASX shares as buys for next week. Here’s why they are bullish on them…
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia. –

broker Buy Shares

Last week saw a large number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.

Here’s why brokers think investors ought to buy them next week:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Morgans, its analysts have retained their add rating but trimmed the price target on this infant formula company’s shares to $12.20. This follows a2 Milk Company’s earnings guidance downgrade due to weakness in the daigou channel. While the broker acknowledges that investor sentiment will be impacted by the uncertainty it is facing, it takes comfort in the company’s strong performance in mainland China. And although it has downgraded its earnings forecasts by almost a third for the coming years, the broker still sees value in its shares at the current level. The a2 Milk share price ended the week at $10.95.

Alliance Aviation Services Ltd (ASX: AQZ)

Analysts at Morgans have also retained their add rating and lifted the price target on this contract, charter and allied aviation services provider’s shares to $5.00. The broker notes that Alliance Aviation is expanding its fleet to 73 aircrafts via the acquisition of 16 Embraer E190s for $85 million. Morgans believes the deal has been done on attractive terms and expects the expansion to result in higher levels of activity across its network in the coming years. The Alliance Aviation share price last traded at $3.90.

City Chic Collective Ltd (ASX: CCX)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating and lifted the price target on this fashion retailer’s shares to $4.25. This follows the announcement of the acquisition of UK-based plus sized fashion retailer Evans. It notes that this acquisition is consistent with its stated goal of building a global footprint solely focused on the plus-sized market. Goldman expects the acquisition to deliver strong strategic benefits and provide a platform for cross-selling Avenue and City Chic products. The City Chic share price ended the week at $3.96.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

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