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:
Allkem Ltd (ASX: AKE)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lithium miner’s shares by 9% to $16.65. This follows the release of a lithium pricing update from Allkem. In response to the update, Morgans has lifted its revenue estimates. In addition, the broker notes that should the lithium market continue to remain strong, the company has a large amount of untapped growth potential. The Allkem share price ended the week at $13.09.
Aristocrat Leisure Limited (ASX: ALL)
A note out of Citi reveals that its analysts have initiated coverage on this gaming technology company’s shares with a buy rating and $44.00 price target. It believes Aristocrat represents a compelling long-term growth story. This is due to its exposure to ongoing growth in mobile game penetration and potential to grow into new markets. The Aristocrat share price was fetching $33.40 at Friday’s close.
Iluka Resources Limited (ASX: ILU)
Analysts at Macquarie have retained their outperform rating and lifted their price target on this mineral sands and rare earths company’s shares to $14.00. This follows news that Iluka’s board has approved phase three of the Eneabba Rare Earths Refinery. Macquarie is very positive on the decision, particularly given its risk-sharing agreement with the Australian government. The Iluka share price ended the week at $12.37.
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
- Here’s why the lithium price is in the spotlight today
- Jackpot! Citi tips Aristocrat share price to surge 30% higher
- Why not all ASX lithium shares are winners from surging commodity prices
- 2 hot ASX lithium stocks brokers rate as buys
- Top brokers name 3 ASX shares to buy today
Motley Fool contributor James Mickleboro owns Allkem 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 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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