Last week saw a large 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:
CSL Limited (ASX: CSL)
According to a note out of UBS, its analysts have retained their buy rating and $342.00 price target on this biotherapeutics company’s shares. The broker remains positive on CSL despite reducing its earnings forecasts slightly to account for a decline in plasma collections between April and June because of the pandemic. Outside this, the broker doesn’t expect a meaningful decline in demand for its therapies during the pandemic due their life-saving nature. I agree with UBS and believe it would be a top option for investors.
Sealink Travel Group Ltd (ASX: SLK)
Analysts at Ord Minnett have retained their buy rating and $5.25 price target on this travel company’s shares. According to the note, the broker believes that SeaLink is well positioned to benefit from the recovery in domestic travel. And although it has downgraded its earnings estimates materially for the next couple of years, it believes these could be upgraded in the coming months as Australia opens up again. While I agree with Ord Minnett, I would like to see how the reopening of Australia goes before investing.
Xero Limited (ASX: XRO)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $80.00 price target on this business and accounting software provider’s shares. It was pleased with Xero’s strong sales and EBITDA growth in FY 2020. And while it acknowledges that subscriber additions could soften during the pandemic, it remains upbeat on the future and believes the recent share price weakness is a buying opportunity for investors. I agree and feel Xero is a great long term investment option.
And here are five top stocks which you may regret not buying after the market crash. They look dirt cheap at current levels.
5 cheap stocks that could be the biggest winners of the stock market crash
Investing expert Scott Phillips has just named what he believes are the 5 cheapest and best stocks to buy right now.
Courtesy of the crashing stock market, these 5 companies are suddenly trading at significant discounts to their recent highs… creating what could be incredible opportunities for bargain-hungry investors.
Simply click here to scoop up your FREE copy and discover the names of all 5 cheap shares to buy now… before the next stock market rally.
Returns as of 7/4/2020
More reading
- How to earn $50,000 of passive income with ASX shares
- Why a buy and hold strategy for ASX shares is best
- Should you invest in super or your ASX share portfolio?
- ASX 200 finishes up 1.4%, gold miner share prices surge
- Brokers name 3 ASX 200 shares to buy today
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 CSL Ltd. and Xero. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The post Top brokers name 3 ASX shares to buy next week appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/2Tc10DE
Leave a Reply