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:
Costa Group Holdings Ltd (ASX: CGC)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and $4.15 price target on this horticulture company’s shares. Credit Suisse notes that Costa delivered a first half result in line with expectations thanks to a stronger than expected performance from its International business which offset weakness in the Domestic business. And while a lot rests on its Domestic business returning to form in the second half, the broker believes a re-rating could happen if it delivers on expectations for the full year. The Costa share price ended the week at $3.18.
IDP Education Ltd (ASX: IEL)
A note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed their price target on this language testing and student placement company’s shares to $32.00. This follows the release of a full year result in line with the broker’s estimates. Macquarie remains positive on the future and believes that its growth drivers remain in place. It continues to expect IDP Education to be a big winner once the pandemic passes. The IDP Education share price was fetching $29.24 at Friday’s close.
Kogan.com Ltd (ASX: KGN)
Another note out of Credit Suisse reveals that its analysts have retained their outperform rating but cut their price target on this ecommerce company’s shares to $14.06. The broker remains positive on Kogan following its full year results and the surprise decision to suspend its dividend. While the broker acknowledges that there are risks that its cost base may take longer than expected to normalise, it holds firm with its outperform rating due to its very strong medium term growth prospects. The Kogan share price ended the week at $10.93.
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
- 3 excellent ASX growth shares to buy in September
- These were the worst performing ASX 200 shares last week
- IDP Education (ASX:IEL) share price tipped by broker to jump 17%
- Here are the 3 heaviest trading ASX 200 shares this Thursday
- Costa (ASX:CGC) share price falls 4% after reporting modest first half growth
Motley Fool contributor 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 has recommended Idp Education Pty Ltd and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO and Kogan.com ltd. 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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