Top brokers name 3 ASX shares to buy next week

Top brokers have named Webjet Limited (ASX:WEB) 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. –

asx brokers

Last week saw a 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:

Nitro Software Ltd (ASX: NTO)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $3.50 price target on this document productivity software company’s shares. This follows the release of Nitro’s fourth quarter update last week. That update saw Nitro record a 64% increase in annualised recurring revenue (ARR) to US$27.7 million. Morgan Stanley was pleased with Nitro’s stronger than expected ARR and its growing proportion of subscription revenues. The broker believes the company is well-placed to continue its solid growth. The Nitro share price ended the week at $3.13.

Macquarie Group Ltd (ASX: MQG)

Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted the price target on this investment bank’s shares to $155.00 ahead of its upcoming third quarter update. According to the note, the broker expects Macquarie’s third quarter profit to be roughly flat on the prior corresponding period. Looking further ahead, Morgan Stanley feels the company is positioned to outperform the market consensus estimate for FY 2021. The Macquarie share price last traded at $131.40.

Webjet Limited (ASX: WEB)

Analysts at Credit Suisse have upgraded this online travel agent’s shares to an outperform rating with an improved price target of $5.40. According to the note, the broker believes Webjet is well-positioned to bounce back in 2022 from pent-up demand and market share gains in both the B2C and B2B segments. Credit Suisse is still expecting a sizeable loss from Webjet in FY 2021, before forecasting a return to profitability in FY 2022. The Webjet share price ended the week at $4.78.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited and Webjet Ltd. The Motley Fool Australia has recommended Nitro Software Limited. 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.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!