Top brokers have named CSL Limited (ASX:CSL) 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:
CSL Limited (ASX: CSL)
According to a note out of Citi, its analysts have upgraded this biotech giant’s shares to a buy rating with a $310.00 price target. The broker made the move largely on valuation grounds after recent weakness in the CSL share price. Citi expects the COVID-19 vaccine rollout to support plasma collections in the coming months. In addition to this, it remains confident that demand for its core plasma-based products will be robust in the medium term. The CSL share price ended the week at $253.26.
Iress Ltd (ASX: IRE)
A note out of Credit Suisse reveals that its analysts have upgraded this financial technology company’s shares to an outperform rating with an $11.00 price target. According to the note, the broker believes that the Iress share price has dropped to a very attractive level. Especially given its defensive qualities and growth opportunities. In addition to this, it notes that its shares offer a generous dividend yield in this low interest rate environment. The Iress share price was fetching $9.53 at Friday’s close.
Qantas Airways Limited (ASX: QAN)
Analysts at Ord Minnett have upgraded this airline operator’s shares to a buy rating with a $6.00 price target. According to the note, the broker believes Qantas is well-placed to come out of the pandemic in a stronger position than when it entered it. And while dividends may be a couple of years away, it feels it is well worth sticking with the company. This is thanks to its balance sheet, cost cutting, and stronger market position. The Qantas share price was trading at $5.30 at the end of the week.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has recommended IRESS Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.