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:
CSL Limited (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating and $335.00 price target on this biotherapeutics company’s shares. Citi has been looking at what impact the Vifor Pharma will have on earnings. While it doesn’t expect the transaction to have a material impact on its near term earnings, it still expects it to boost its share price. Though, the broker believes the biggest impact to its share price will be plasma collection improvements. The CSL share price ended the week at $264.81.
JB Hi-Fi Limited (ASX: JBH)
A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this retail giant’s shares to $58.00. This follows the release of a sales update which revealed that business has been booming so far during the second half. Based on its strong performance, the broker believes its shares are undervalued at the current level. The JB Hi-Fi share price was fetching $54.78 on Friday.
Red 5 Limited (ASX: RED)
Another note out of Morgans reveals that its analysts have upgraded this gold miner’s shares to an add rating with a 48 cents price target. Morgans notes that Red 5 remains on track for first gold production at its King of the Hills (KOTH) Gold Project in Western Australia next quarter. This follows the recent achievement of further key construction and operational readiness milestones during February. The broker believes this has de-risked things materially and expects its shares to re-rate in the coming months as production commences and investors adjust their risk discounts. The Red 5 share price was trading at 38.5 cents on Friday.
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 no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. 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 Bruce Jackson.
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