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 investors might want to be aware of are summarised below.
Here’s why brokers think investors ought to buy them next week:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating but cut their price target on this artificial intelligence data services company’s shares to $14.80. Citi highlights that Appen has not provided the market with an end of year trading update. In light of this, it feels no news is good news and suspects that the company has achieved its guidance in FY 2021. As a result, it thinks that market consensus estimates could be too low. The Appen share price was trading at $10.12 at the end of the week.
Qantas Airways Limited (ASX: QAN)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $6.10 price target on this airline operator’s shares. While the broker has reduced its earnings estimates to reflect the disruption caused by the Omicron spread, it remains positive on its medium term outlook once the pandemic passes. The Qantas share price was fetching $4.89 at Friday’s close.
REA Group Limited (ASX: REA)
Analysts at Ord Minnett have upgraded this property company’s shares to a buy rating with an improved price target of $165.00. According to the note, the broker believes recent market weakness is an opportunity to pick up some quality shares at good prices. One of those shares is REA Group, which it feels has decent upside potential from the current level. The REA Group share price was trading at $146.83 at the end of the week.
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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. owns and has recommended Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool Australia has recommended REA Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.