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:
CSL Limited (ASX: CSL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this biotherapeutics giant’s shares to $334.70. This follows the announcement of the acquisition of Swiss pharma giant Vifor Pharma for $17 billion. Morgans is a fan of the acquisition and doesn’t believe it should be interpreted as a sign that CSL’s core business’ growth is coming to an end. The CSL share price ended the week at $272.10.
JB Hi-Fi Limited (ASX: JBH)
A note out of Ord Minnett reveals that its analysts have upgraded this retail giant’s shares to a buy rating with a slightly trimmed price target of $54.00. The broker believes JB Hi-Fi is well-placed to continue benefiting from elevated consumer spending. This is expected to underpin strong earnings and generous dividends in the near term. The JB Hi-Fi share price was fetching $47.65 at Friday’s close.
西太银行 (ASX: WBC)
Analysts at Citi have retained their buy rating and $27.50 price target on this banking giant’s shares following an update on its share buyback plans. According to the note, Citi was pleased to see that the bank has pledged to buyback shares on-market should its off market buyback not achieve the full $3.5 billion target. Outside this, the broker believes Westpac is the best value bank following its recent pullback. The Westpac share price ended the week at $21.03.
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Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.