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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this infant formula company’s shares to $7.02. Citi has been looking through A2 Milk’s half year results and has seen enough to stay positive. The broker highlights that its inventory issues appear largely under control and its revenue outlook is improved. One negative, though, is its marketing spend, which is much higher than expected. The A2 Milk share price ended the week at $5.40.
Airtasker Ltd (ASX: ART)
A note out of Morgans reveals that its analysts have retained their add rating but cut their price target slightly on this small jobs marketplace provider’s shares to $1.25. The broker was pleased with the resilience/adaptability of Airtasker’s platform in a challenging operating environment and notes that demand has bounced back strongly post lockdowns. All in all, the broker remains very positive on Airtasker’s long term growth potential and appears to see recent weakness as a buying opportunity. The Airtasker share price was fetching 68 cents at the end of the week.
NextDC Ltd (ASX: NXT)
Another note out of Morgans reveals that its analysts have retained their add rating and $14.64 price target on this data centre operator’s shares. This follows the release of a half year result that was ahead of the broker’s expectations. And while the broker highlights that NextDC has increased its capex guidance by ~8%, it interprets this as a positive. This is because the company typically builds only what it has line of sight to leasing. The NextDC share price ended the week at $10.69.
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
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- Brokers name 3 ASX shares to buy today
- Why Cimic, Lovisa, NextDC, and Nine shares are charging higher
- NextDC (ASX:NXT) share price climbs 5% on record results
- Airtasker (ASX:ART) share price falls 4% amid half-year plagued by COVID
Motley Fool contributor James Mickleboro owns NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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