Top brokers have named EML Payments Ltd (ASX:EML) 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:
EML Payments Ltd (ASX: EML)
According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this payments company’s shares to $6.20. The broker made the move after EML announced the acquisition of Sentenial. It notes that Sentenial’s Nuapay open banking business is well-placed in the European market and has opportunities to expand globally. UBS also likes that the deal further reduces its earnings exposure to giftcards. The EML share price was fetching $5.75 at the close of play on Friday afternoon.
Tyro Payments Ltd (ASX: TYR)
Analysts at Morgans have commenced coverage on this payments company’s shares with an add rating and $4.25 price target. The broker has been impressed with the way the fifth largest merchant acquiring bank in Australia has been growing its market share over the last few years and appears confident of more of the same in the future. In addition, it points out that Tyro has consistently delivered operating leverage as it grows. The Tyro share price was trading at $3.74 at the end of last week.
Westpac Banking Corp (ASX: WBC)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $27.20 price target on this banking giant’s shares. According to the note, the broker believes that demand for home loans due to the rebound in the housing market will support its revenue, earnings, and ultimately its share price. The broker’s data also indicates that its market share loss is now easing. The Westpac share price was fetching $25.21 at Friday’s close.
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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 and recommends Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends EML Payments. The Motley Fool Australia owns shares of and has recommended EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.