Top brokers name 3 ASX shares to buy next week

These shares could be in the buy zone according to brokers…
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:

Bega Cheese Ltd (ASX: BGA)

According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this diversified food company’s shares to $6.35. Morgans has downgraded its earnings estimates to reflect the fact that Bega and rivals are overpaying for milk due to intense competition for supplies. However, it feels this is more than reflected in the current share price. As a result, it sees this as a potential buying opportunity for investors. The Bega share price ended the week at $5.39.

Netwealth Group Ltd (ASX: NWL)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this investment platform provider’s shares to $18.25. This follows the release of its fourth quarter update last week. Macquarie notes that Netwealth outperformed its guidance in FY 2021 with inflows of $9.8 billion. The broker believes that this strong flow momentum continues to support its thesis despite elevated valuation metrics. The Netwealth share price was fetching $16.03 at Friday’s close.

TPG Telecom Ltd (ASX: TPG)

Analysts at Morgan Stanley have retained their overweight rating and $9.50 price target on this telco giant’s shares. According to the note, the broker suspects that a potential sale of its towers or other infrastructure assets a la Telstra Corporation Ltd (ASX: TLS) could be a positive catalyst for the TPG share price. Outside this, it continues to see a lot of value in its shares at the current level. The TPG share price was trading notably lower than Morgan Stanley’s price target at $6.21 on Friday afternoon.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

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More reading

Why A2 Milk and Bega shares are looking so tasty now: analyst

5 things to watch on the ASX 200 on Friday

Netwealth (ASX:NWL) share price up 5% on quarterly update
ASX 200 Weekly Wrap: ASX finishes FY21 on a high

Why the Telstra (ASX:TLS) share price outlook suddenly improved last week

Motley Fool contributor 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 has recommended Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth and Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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