It was another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Netwealth Group Ltd (ASX: NWL)
According to a note out of Bell Potter, its analysts have retained their buy rating and $30.00 price target on this investment platform provider’s shares. Bell Potter notes that Netwealth released its quarterly update this week and delivered funds under administration (FUA) that fell a touch short of expectations. However, this FUA miss was due to a $3.7 billion negative market movement. The good news is that with markets rebounding in April, Bell Potter believes that most of this miss has now been reversed. Outside this, the broker highlights that Netwealth shares have de-rated to trade on 28x forward EBITDA. This compares to 33x through-the-cycle. Bell Potter believes there is scope for a re-rating in the future, which could make now a good time to buy. The Netwealth share price ended the week at $25.42.
Qantas Airways Ltd (ASX: QAN)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating on this airline operator’s shares with a slightly reduced price target of $11.00. This follows the release of a market update from Qantas which revealed higher fuel costs compared to previous expectations. However, Macquarie was pleased to see that Qantas’ yields have improved, which has underpinned international and domestic revenue growth ahead of estimates. In addition, it thinks Qantas is well-placed to adapt to challenges from the war in the Middle East through its accelerated fleet retirement. The Qantas share price was fetching $9.08 at Friday’s close.
ResMed Inc. (ASX: RMD)
Analysts at Ord Minnett have retained their buy rating on this sleep disorder treatment company’s shares with a trimmed price target of $41.40. According to the note, the broker is forecasting ResMed to deliver double-digit earnings and revenue growth in FY 2026. The good news is that it then expects this trend to continue through to at least FY 2028. Ord Minnett believes this will leave ResMed with a significant cash balance, which could lead to further capital management initiatives. Overall, it feels this makes the company’s shares a top option for investors after recent weakness. The ResMed share price ended the week at $31.52.
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 Lovisa. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has recommended Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.