The team at Morgans has recently named a number of shares that it rates highly.
Two that get the tick of approval are listed below. Hereâs why its analysts have named these ASX shares as buys:
Lovisa Holdings Ltd (ASX: LOV)
This fashion jewellery retailer could be an ASX share to buy according to Morgans. It believes the company has huge growth potential thanks to its global expansion plans and strong position in an underserved niche.
Morgans currently has an add rating and $24.50 price target on the companyâs shares. It commented:
LOV has a substantial multi-year global rollout opportunity across four continents. This opportunity has been materially boosted by the acquisition last year of beeline, which took LOV into several new European markets (notably Germany) and accelerated its expansion in France. We think LOVâs products fill an underserved niche, offering good quality fashion jewellery at prices that are attainable to the target demographic. The recent appointment of Victor Herrero as CEO, replacing Shane Fallscheer, provides a clue as to the extent of LOVâs global ambition, and its impatience to realise that ambition. The next few years will be worth watching.
NextDC Ltd (ASX: NXT)
Another ASX share that the broker is bullish on is data centre operator NextDC. Thanks to strong and growing demand for data centre capacity and its expanding network of world class centres, the broker is tipping NextDC to grow strongly in the coming years.
Morgans has an add rating and $13.30 price target on the companyâs shares. It commented:
NXT should deliver a strong result at the upper end of guidance. Structural demand for cloud and colocation remains incredibly strong. NXTâs new S3 and M3 data centres go live shortly and this should result in significant new customer wins over the next six months (including CSP options being exercised). Sales should drive the share price higher. NXT looks comfortably on-track to generate over $300m of EBITDA in the next three to five years.
The post Broker names 2 top ASX shares to buy appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor James Mickleboro has positions in NEXTDC 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 Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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