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:
Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this baby products retailer’s shares to $6.15. This follows the release of a full year result ahead of the broker’s expectations. Macquarie notes that while online sales surged, the vast majority of its sales involve customer store visits. It feels this highlights the strength of the company’s store assets. Looking ahead, it is partly for this reason that Macquarie remains positive on its medium term outlook. The Baby Bunting share price ended the week at $5.50.
Breville Group Ltd (ASX: BRG)
Another note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed their price target on this appliance manufacturer’s shares to $34.37. Macquarie notes that Breville delivered a result in line with its estimates in FY 2021. Positively, the broker appears confident there’s a lot more to come from Breville. It highlights its increasing investment and expansion into new geographies. The Breville share price was fetching $32.68 at the end of the week.
Westpac Banking Corp (ASX: WBC)
Analysts at Citi have retained their buy rating and $30.00 price target on this banking giant’s shares. This follows the release of Westpac’s third quarter update last week. According to the note, Citi highlights that Westpac’s update appears to indicate that it is trading slightly ahead of expectations in the second half. Looking ahead, the broker is optimistic that its system growth will recover in both mortgage and business lending. The Westpac share price was trading at $25.76 at Friday’s close.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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More reading
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- August has been a good month so far for the Westpac (ASX:WBC) share price
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- Westpac (ASX:WBC) share price rises after broker tips $5bn buyback
Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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 Baby Bunting. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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