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:
City Chic Collective Ltd (ASX: CCX)
According to a note out of Citi, its analysts have retained their buy rating and $7.20 price target on this plus sized fashion retailer’s shares. This follows the release of a stronger than expected quarterly update by its US rival Torrid. The broker believes this bodes well for City Chic’s performance in FY 2022. Especially given how almost 40% of its sales derive from the US market at present. The City Chic share price ended the week at $6.42.
GrainCorp Ltd (ASX: GNC)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $7.27 price target on this grain exporter’s shares. The broker believes that above-average rainfall bodes well for the East Coast winter crop. In light of this, Macquarie suspects that GrainCorp could benefit greatly and receive a big profit boost in FY 2022 if its estimates prove to be accurate. The GrainCorp share price was fetching $6.46 on Friday.
Pilbara Minerals Ltd (ASX: PLS)
Another note out of Macquarie reveals that its analysts have an outperform rating and $2.70 price target on this lithium miner’s shares. The broker was pleased with the larger than expected increase to its mineral resource estimate. In addition, Macquarie continues to believe that Pilbara Minerals is well-placed to grow its production at a strong rate over the remainder of the 2020s and benefit from increasing demand for battery materials. The Pilbara Minerals share price ended the week at $2.05.
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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- Here are the 3 heaviest trading ASX 200 shares on Thursday
- Is the party only just getting started for ASX lithium shares?
- Why these seasoned investors are watching the Pilbara (ASX:PLS) share price
- Leading broker reveals why these 10 big-name shares have been firing up its clients
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. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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