Top brokers name 3 ASX shares to buy next week

ASX 200 shares to buy A clockface with the word 'Time to Buy'

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:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this banking giant’s shares to $31.00.  This follows the release of full year result that revealed a better than expected cash profit and dividend in FY 2021. One slight disappointment was a contraction in home loan lending. And while the broker suspects that the market may have doubts regarding ANZ’s cost reduction plans, its analysts believe the bank can sustainably meet its target. The ANZ share price ended the week at $28.80.

Macquarie Group Ltd (ASX: MQG)

A note out of Citi reveals that its analysts have upgraded this investment bank’s shares to a buy rating with an improved price target of $226.00. The broker was pleased with Macquarie’s performance during the first half and is expecting more of the same in the second half. This is due partly to Citi’s belief that Macquarie is well-placed to benefit from the current energy crisis. The Macquarie share price was fetching $202.42 at Friday’s close.

Rio Tinto Limited (ASX: RIO)

Analysts at Credit Suisse have retained their outperform rating but trimmed their price target on this mining giant’s shares to $106.00. According to the note, the broker believes the recent weakness in the Rio Tinto share price is a buying opportunity. Credit Suisse feels its current share price implies a much weaker than likely iron ore price. In addition, its analysts believe the outlook for iron ore is more positive beyond 2022. The Rio Tinto share price ended the week at $88.81.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Should you invest $1,000 in Rio Tinto right now?

Before you consider Rio Tinto, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rio Tinto wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

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 owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3qasRWd

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s