Top brokers have named Kogan.com Ltd (ASX:KGN) 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. –
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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this banking giant’s shares to $28.50. The broker made the move ahead of a series of updates in the sector during February. Morgans suspects that credit impairment charges could positively surprise this month based on APRA’s COVID loan deferral updates. Looking ahead, the broker is expecting ANZ to pay shareholders a dividend of $1.27 per share in FY 2021. The ANZ share price ended the week at $25.29. This means its shares potentially offer both decent upside and a dividend yield of 5%.
Kogan.com Ltd (ASX: KGN)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted the price target on this ecommerce company’s shares to $21.08. According to the note, Kogan delivered a half year update in line with the broker’s expectations. Looking ahead, Credit Suisse believes the company is well-placed for growth thanks to the acquisition of Mighty Ape, its expanding product range, and the shift to online shopping. The Kogan share price last traded at $17.28.
ResMed Inc. (ASX: RMD)
Analysts at Credit Suisse have retained their outperform rating and $29.50 price target on this sleep treatment-focused medical device company’s shares. According to the note, the broker believes ResMed is well-placed to benefit from a shift to home healthcare. This follows the company’s investment in the out of hospital space over the last few years. This includes the US$800 million acquisition of Brightree in 2016. The ResMed share price ended the week at $26.70.
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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 Kogan.com ltd. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.