Top brokers name 3 ASX shares to buy next week

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:

Macquarie Group Ltd (ASX: MQG)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating and increased their price target on this investment bank’s shares to $231.00. Morgan Stanley has upgraded its earnings estimates for FY 2023 to reflect favourable trading conditions. This is particularly the case for Macquarie’s commodity business, which the broker believes is benefiting from US gas prices. The Macquarie share price ended the week at $177.20.

Megaport Ltd (ASX: MP1)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $11.00 price target on this network as a service company. Macquarie has been busy reviewing the technology sector following earnings season. It was impressed enough with Megaport to name it as its new top pick in the sector. The broker believes the market isn’t giving enough credit to the stickiness of Megaport’s product. The Megaport share price was fetching $6.91 at Friday’s close.

REA Group Limited (ASX: REA)

Analysts at Goldman Sachs have reiterated their conviction buy rating and $164.00 price target on this property listing company’s shares. Goldman Sachs has also been looking at the tech sector following earnings season. It was pleased with REA and continues to rate it as a conviction buy. The broker is forecasting solid earnings growth in the coming years. For example, in FY 2023 and FY 2024, Goldman is expecting net profit growth of almost 10% and 18%, respectively. from REA. The REA share price ended the week at $123.77.

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

• Is this why the Macquarie share price was ‘steaming ahead’ on Friday?
• Brokers name 3 ASX shares to buy today
• Here are the top 10 ASX 200 shares today
• Why Dexus, Dusk, Macquarie, and Qantas shares are pushing higher
• It’s a cloudy day on the ASX, but some All Ords shares are still shining brightly

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. has positions in and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO, Macquarie Group Limited, and REA Group Limited. 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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