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.
Hereâs why brokers think investors ought to buy them next week:
Argosy Minerals Limited (ASX: AGY)
According to a note out of Macquarie, its analysts have retained their outperform rating and 80 cents price target on this lithium developerâs shares. This follows news that its Rincon lithium project in Argentina is almost fully commissioned. This leaves the company well-placed to be generating material free cash flow in the near future. Especially given how its ramp up to 2,000 tonnes per annum production is expected to take less than six months. The Argosy Minerals share price ended the week at 40 cents.
CSL Limited (ASX: CSL)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $339.00 price target on this biotherapeutics giantâs shares. Morgan Stanley was pleased with what it saw at the companyâs European Investor Site Tour. The broker came away from the event feeling even more confident about CSLâs margin outlook. The CSL share price was fetching $300.18 at Thursdayâs close.
Lynas Rare Earths Ltd (ASX: LYC)
Analysts at Bell Potter have upgraded this rare earths producerâs shares to a buy rating with a slightly trimmed price target of $8.06. While Bell Potter acknowledges that there are some near term earnings risks to consider, it feels the recent Tesla-induced selloff has been an overreaction. Bell Potter sees multiple long-term growth pathways outside Tesla, which will be underpinned by arguably the best rare-earth deposit at Mt Weld. The Lynas share price was trading at $6.06 at the end of the week.
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 positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL. 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 Scott Phillips.
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