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:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Goldman Sachs, its analysts have retained their buy rating on this gaming technology company’s shares with an improved price target of $45.70. Goldman has been looking at Aristocrat’s digital portfolio and Anaxi iGaming business and is very positive on their long-term outlooks. In respect to the latter, the broker sees Anaxi as a key growth opportunity and feels the potential upside is being underestimated by the market. The Aristocrat share price ended the week at $37.16.

IGO Ltd (ASX: IGO)

Another note out of Goldman Sachs reveals that its analysts have upgraded this battery materials miner’s shares to a buy rating with a $13.90 price target. Although the broker still sees near term earnings downside as lithium price declines flow into realised pricing and capex increases likely flow through consensus estimates, it still sees emerging fundamental value based on its lithium price forecasts. The IGO share price was fetching $13.43 at the end of the week.

NextDC Ltd (ASX: NXT)

Analysts at Morgans have retained their add rating on this data centre operator’s shares with an improved price target of $13.50. This follows news of a major increase to its contracted utilisation. Morgans was impressed with the news and appears to believe that Microsoft could be its big new customer. It highlights that the tech giant recently canned plans to develop its own data centre and needs capacity to support the exponential demand for ChatGPT, which runs on its Azure Cloud Infrastructure. The NextDC share price was trading at $12.15 at Friday’s close.

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

• Brokers are raving about this ASX 200 tech share benefiting from ChatGPT’s rise
• Here are the top 10 ASX 200 shares today
• Brokers name 3 ASX shares to buy now
• Why Allkem, IGO, Northern Star, and Race Oncology shares are racing higher
• Why is the IGO share price busting the benchmark on Friday?

Motley Fool contributor James Mickleboro has positions in Nextdc. 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 Scott Phillips.

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