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:
Mineral Resources Ltd (ASX: MIN)
According to a note out of Morgans, its analysts have retained their add rating on this mining and mining services companyâs shares with a trimmed price target of $103.00. Although the broker was a touch underwhelmed with Mineral Resourcesâ quarterly performance, the result does not impact its very positive longer-term investment view on the company. As a result, it continues to see plenty of value in its shares at the current level. The Mineral Resources share price ended the week at $73.68.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Citi reveals that its analysts have retained their buy rating and $4.60 price target on this lithium minerâs shares. This follows the release of a quarterly update that was short of expectations, particularly in regard to lithium pricing. However, Citi is overlooking this on the belief that we are probably at the end of the downstream destocking cycle. The Pilbara Minerals share price was fetching $4.24 at Fridayâs close.
Xero Limited (ASX: XRO)
Analysts at UBS have upgraded this cloud accounting companyâs shares to a buy rating with an improved price target of $109.00. According to the note, UBS believes that Xero is well-placed to deliver stronger than expected free cash flow in the coming years. This is due to its belief that the companyâs strong growth will continue despite its recent cost reductions initiative. The Xero share price was trading at $93.34 on Friday afternoon.
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
- 2 ASX lithium shares this US institutional investor is buying up big (and one it’s selling)
- Here are the top 10 ASX 200 shares today
- Nasdaq rebound! Brokers say these ASX 200 tech shares are buys
- Here are the 3 most heavily traded ASX 200 shares on Friday
- Why Appen, Megaport, Mirvac, and Pilbara Minerals shares are pushing higher today
Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. 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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