Top brokers name 3 ASX shares to buy next week

Top brokers have named Telstra Corporation Ltd (ASX:TLS) 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. –

finger pressing red button on keyboard labelled Buy

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:

Bapcor Ltd (ASX: BAP)

According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this auto parts retailer’s shares to $9.35. The broker notes that Bapcor has made an investment Tye Soon in Asia. Citi believes the deal will give the provide the company with opportunities to rollout across the region. For example, the broker estimates that over the long term Bapcor could have a network of over 450 stores across the South Korea and Malaysia markets, where Tye Soon has a decent presence. The Bapcor share price ended the week at $7.69.

PolyNovo Ltd (ASX: PNV)

A note out of Macquarie reveals that its analysts have upgraded this medical device company’s shares to an outperform rating with an improved price target of $3.20. According to the note, the broker believes PolyNovo is well-placed to grow its market share. It also notes that the company is exploring additional opportunities in the treatment of chronic wounds and hernia. These are significant markets and could give its long term sales growth a major lift if successful. The PolyNovo share price was fetching $2.85 at Friday’s close.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Ord Minnett have retained their buy rating and $4.05 price target on this telco giant’s shares following its corporate restructure update. According to the note, the broker sees value in its plan of splitting into four subsidiaries. Ord Minnett also believes that Telstra can continue paying a 16 cents per share fully franked dividend for the foreseeable future. The Telstra share price ended the week at $3.41.

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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 POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Bapcor and Telstra 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.

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