Top brokers have named PointsBet Holdings Ltd (ASX:PBH) 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:
Booktopia Group Ltd (ASX: BKG)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this online book retailer’s shares to $3.54. The broker was pleased with Booktopia’s third quarter update and notes that its strong growth and operating leverage has continued. The broker expects the company to have won almost 8% of the book market by the end of FY 2021. After which, it expects its market share gains to continue. The Booktopia share price ended the week at $2.56.
Breville Group Ltd (ASX: BRG)
Analysts at UBS have retained their buy rating and $35.70 price target on this appliance manufacturer’s shares. According to the note, the broker expects that Breville’s earnings growth will slow in the second half due to the company pulling forward cost investments. However, it appears supportive of the move and expects it to underpin solid sales growth over the coming years. It also sees upside potential from merger and acquisition opportunities. The Breville share price was fetching $25.83 at Friday’s close.
PointsBet Holdings Ltd (ASX: PBH)
A note out of Credit Suisse reveals that its analysts have upgraded this sports betting company’s shares to an outperform rating with a $16.15 price target. According to the note, the broker believes that PointsBet’s third quarter update demonstrates the company’s ability to win market share in the massive United States market. Overall, it is forecasting very strong revenue growth over the coming years as its footprint in the market grows. The PointsBet share price was trading at $13.56 on Friday.
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- 2 fantastic ASX growth shares that this leading broker loves
- Insiders have been buying Breville (ASX:BRG) and this ASX share
- 3 exciting small cap ASX shares to watch in May
- 2 stellar ASX growth shares rated as buys
- PointsBet (ASX:PBH) share price slumps despite US iGaming launch
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 Pointsbet Holdings Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Booktopia Group Limited. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.