Top brokers name 3 ASX shares to buy next week

An ASX shares broker analysing a chart tracking the A2 Milk share price

An ASX shares broker analysing a chart tracking the A2 Milk share price

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:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

According to a note out of Morgan Stanley, its analysts have resumed coverage on this pizza chain operator with an overweight rating and $100.00 price target. The broker believes investors should look beyond short term headwinds such as lockdown boosts a year earlier and food inflation and focus on its long term growth potential. This is being underpinned by the company’s plan to double its store footprint globally. The Domino’s share price ended the week at $75.31.

Life360 Inc (ASX: 360)

A note out of Bell Potter reveals that its analysts have retained their buy rating but cut their price target on this location technology company’s shares to $8.25. Bell Potter highlights that Life360 performed ahead of its expectations during the first quarter, with paying circles, core annual monthly revenue, global monthly active users, and core revenue all growing quicker than its estimates. And while the broker was disappointed with the  company’s cash flow, it believes this will materially improve in Q2 and Q3 and then be positive in Q4. The Life360 share price was fetching $4.03 at the end of the week.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Citi have retained their buy rating and $3.60 price target on this lithium miner’s shares. This follows the release of the company’s third quarter update, which revealed another jump in lithium prices and expectations for further increases. And while the broker isn’t convinced Pilbara Minerals will achieve its production growth target this year, it isn’t enough to dampen its bullish view. The Pilbara Minerals share price ended the week at $2.85.

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

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

More reading

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia

Leave a Reply

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

You are commenting using your 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