Top brokers have named Qantas Airways Limited (ASX:QAN) 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:
Metcash Limited (ASX: MTS)
According to a note out of Citi, its analysts have retained their buy rating and $4.10 price target on this wholesale distributor’s shares following its investor update. Although Metcash revealed significantly higher capital expenditure plans than it was expecting, the broker remains positive on its outlook. This is due to its strong position in the hardware market and improving supermarket sales. It suspects that the latter is being driven by market share gains from independent supermarkets. The Metcash share price was trading at $3.47 at the close of play on Friday.
Qantas Airways Limited (ASX: QAN)
A note out of Macquarie reveals that its analysts have upgraded this airline operator’s shares to an outperform rating with a $6.35 price target. According to the note, the broker is becoming increasingly positive on Qantas’ outlook. This is thanks to the rollout of COVID-19 vaccines, increasing domestic capacity, and the structural improvements in its overall business. The Qantas share price was fetching $5.35 at Friday’s close.
Sonic Healthcare Limited (ASX: SHL)
Analysts at Credit Suisse have retained their outperform rating and $40.00 price target on this healthcare company’s shares. According to the note, the broker believes that Sonic is well-positioned to benefit from COVID testing. Particularly given the government’s decision to extend its reimbursements until the end of the year. In addition to this, Credit Suisse feels it is well-placed for growth thanks to a number of tailwinds and has opportunities to supplement this with acquisitions. The Sonic share price was trading at $32.68 at the market close on Friday.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.