Top brokers have named REA Group Limited (ASX:REA) 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:
REA Group Limited (ASX: REA)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this property listings company’s shares to $179.10. This follows the release of a strong third quarter update earlier this month. Macquarie was pleased with its update and remains positive on its outlook. Particularly given its expectation for a positive shift in its sales mix and depth growth. The REA Group share price ended the week at $147.70.
Star Entertainment Group Ltd (ASX: SGR)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and $4.65 price target on this casino and resorts operator’s shares. This follows the announcement of a proposal to merge with rival Crown Resorts Ltd (ASX: CWN). Macquarie sees a lot of positives from the proposal, such as upwards of $200 million in synergies. Overall, if everything goes to plan, it believes its shares could be worth $7.00 a share eventually. The Star share price ended the week at $4.06.
Woolworths Group Ltd (ASX: WOW)
Analysts at Morgan Stanley have retained their overweight rating and $44.00 price target on this retail conglomerate’s shares. This follows confirmation that the company is looking to demerge its Endeavour Drinks business. The broker is happy with the plan and believes that Woolworths’ balance sheet will be strong enough to return upwards of $2 billion to shareholders via capital management initiatives. The Woolworths share price was fetching $40.58 at Friday’s close.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths Limited. 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.