Top brokers name 3 ASX shares to buy next week

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 but trimmed their price target on this corporate travel specialist’s shares to $19.95. Macquarie notes that industry data shows that corporate travel activity softened in the United States in November. While the broker suspects that this could mean the company falls short of its expectations during the first half, it retains its buy rating due to its attractive valuation. The Corporate Travel Management share price ended the week at $14.09.

Maas Group Holdings Ltd (ASX: MGH)

A note out of Goldman Sachs reveals that its analysts have initiated coverage on this property, construction, and infrastructure solutions provider’s shares with a buy rating and $4.20 price target. Goldman believes that Maas is in a transition phase and will see higher quality real estate income become the largest source of earnings in the next three years. And with its shares trading at 10x forward earnings, it believes there’s a lot of value on offer here. The Maas share price was fetching $2.51 at Friday’s close.

Telstra Group Ltd (ASX: TLS)

Analysts at Morgan Stanley have retained their overweight rating on this telco giant’s shares with an improved price target of $4.75. According to the note, the broker believes Telstra’s outlook is positive thanks to the recent shareholder approval of a restructure. The broker highlights that this means the company has the opportunity to unlock value by selling some of its infrastructure assets. If this happens, Morgan Stanley suspects that a major share buyback could be undertaken. The Telstra share price ended the week at $4.00.

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 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 has positions in and has recommended Telstra Group. The Motley Fool Australia has recommended Corporate Travel Management. 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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