Last week saw a number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.
Here’s why brokers think investors ought to buy them next week:
Metcash Limited (ASX: MTS)
According to a note out of Citi, its analysts have retained their buy rating and $4.10 price target on this wholesale distributor’s shares following its investor update. Although Metcash revealed significantly higher capital expenditure plans than it was expecting, the broker remains positive on its outlook. This is due to its strong position in the hardware market and improving supermarket sales. It suspects that the latter is being driven by market share gains from independent supermarkets. The Metcash share price was trading at $3.47 at the close of play on Friday.
Qantas Airways Limited (ASX: QAN)
A note out of Macquarie reveals that its analysts have upgraded this airline operator’s shares to an outperform rating with a $6.35 price target. According to the note, the broker is becoming increasingly positive on Qantas’ outlook. This is thanks to the rollout of COVID-19 vaccines, increasing domestic capacity, and the structural improvements in its overall business. The Qantas share price was fetching $5.35 at Friday’s close.
Sonic Healthcare Limited (ASX: SHL)
Analysts at Credit Suisse have retained their outperform rating and $40.00 price target on this healthcare company’s shares. According to the note, the broker believes that Sonic is well-positioned to benefit from COVID testing. Particularly given the government’s decision to extend its reimbursements until the end of the year. In addition to this, Credit Suisse feels it is well-placed for growth thanks to a number of tailwinds and has opportunities to supplement this with acquisitions. The Sonic share price was trading at $32.68 at the market close on Friday.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of February 15th 2021
More reading
- End of oil price rally fires warning shot for the ASX COVID recovery trade
- Qantas (ASX:QAN) share price slips on employee payment news
- Revealed: 4 least profitable industries in Australia
- Brokers are bullish about these 3 ASX 200 shares
- 3 top ASX shares rated as buys by brokers
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
from The Motley Fool Australia https://ift.tt/391in1U
Leave a Reply