Brokers are feeling positive about these ASX shares…
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:
Premier Investments Limited (ASX: PMV)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this retail conglomerate’s shares to $33.00. The broker was pleased with Premier Investments’ performance in FY 2021. And while it expects earnings and margins to normalise in FY 2022, it still sees value in its shares. It also notes that the company’s decision to stock up on inventory looks well-timed due to supply chain headwinds that could impact its rivals. The Premier Investments share price ended the week at $30.28.
Redbubble Ltd (ASX: RBL)
A note out of Morgan Stanley reveals that its analysts have commenced coverage on this ecommerce company’s shares with an overweight rating and $6.50 price target. Morgan Stanley likes Redbubble due to its position as the largest print-on-demand marketplace globally with over 700,000 independent artists on its platform. The broker believes the company has a large addressable market and sees opportunities to monetise its growing user base. The Redbubble share price was trading notably lower than this price target at $4.52 at Friday’s close.
Qantas Airways Limited (ASX: QAN)
Analysts at Ord Minnett have retained their buy rating and lifted their price target on this airline operator’s shares to $6.50. According to the note, the broker believes that there is significant pent-up demand in the travel market. As a result, Ord Minnett expects Qantas to benefit once border reopen. Especially with Virgin Australia downsizing and seemingly conceding market share to Qantas. The Qantas share price ended the week at $5.59.
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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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.