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:
Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Macquarie, its analysts have retained their outperform rating and $26.70 price target on this corporate travel specialist’s shares. The broker notes that industry data is pointing to improving trading conditions in the United States, which is big positive given the company’s significant exposure to this market. All in all, the broker is very positive on Corporate Travel Management’s outlook and continues to rate it as its top pick in the sector. The Corporate Travel Management share price was trading at $23.28 at the end of the week.
Seek Limited (ASX: SEK)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted their price target on this job listings company’s shares to $36.00. Morgan Stanley was pleased with Seek’s performance during the first half and expects more of the same in the future. Particularly given the tight jobs market and higher than normal rates of job switching. The Seek share price was fetching $31.03 at Friday’s close.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Citi have retained their buy rating and $13.78 price target on this wine company’s shares. Citi notes that industry data appears to be showing that sales are shifting from the retail channel to the on-premise channel. This could be a big positive given that this channel is higher margin. So much so, the broker suspects that Treasury Wine could outperform its expectations in the second half. The Treasury Wine share price ended the week at $11.84.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro owns SEEK Limited. 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 Corporate Travel Management Limited, SEEK Limited, and Treasury Wine Estates Limited. 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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