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:
Australia and New Zealand Banking Group Ltd (ASX: ANZ)
According to a note out of UBS, its analysts have retained their buy rating and lifted their price target on this banking giant’s shares to $32.00. UBS was pleased with ANZ’s performance during the first half of FY 2022 and notes that its results came in ahead of expectations. Though, the broker acknowledges that the quality of the earnings beat was low and driven by write-backs. Nevertheless, the broker feels the bank’s shares are cheap, particularly given its improving outlook as rates rise. The ANZ share price ended the week at $26.76.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this pizza chain operator’s shares to $108.42. Citi highlights that Domino’s US has reported a recovery in the carryout channel. Assuming the carryout channel is also recovering in other European markets, the broker expects this to be a positive for the company, particularly in markets like France where it had a strong carryout business pre-Covid. The Domino’s share price was fetching $66.29 at Friday’s close.
Lovisa Holdings Ltd (ASX: LOV)
Another note out of Citi reveals that its analysts have retained their buy rating but trimmed their price target on this fashion jewellery retailer’s shares to $20.40. Citi notes that Lovisa’s latest trading update reveals that its strong sales growth has continued despite global supply constraints. Looking ahead, the broker is bullish on Lovisa due to its long term growth potential underpinned by existing markets and potential new markets. The Lovisa share price ended the week at $16.63.
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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 Dominos Pizza Enterprises Limited and Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.