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:
BHP Group Ltd (ASX: BHP)
According to a note out of Morgans, its analysts have retained their add rating on this mining giant’s shares with a trimmed price target of $47.40. Morgans has been looking at the mining sector and named BHP as one of its top two picks. This is due to its strong free cash flow generation, low risk profile, and belief that less can go wrong relative to its peers. The BHP share price ended the week at $40.02.
Bank of Queensland Ltd (ASX: BOQ)
A note out of Citi reveals that its analysts have retained their buy rating and $8.75 price target on this regional bank’s shares. Although Bank of Queensland’s FY 2022 cash earnings were below consensus estimates, the broker highlights positive commentary on interest rate leverage. It believes the market has been underestimating the extent of rates leverage across the sector. And while disappointed with its cost outlook, it expects this to be offset by higher rates. The Bank of Queensland share price was fetching $7.73 at Friday’s close.
Qantas Airways Limited (ASX: QAN)
Analysts at JP Morgan have retained their overweight rating and lifted their price target on this airline operator’s shares to $7.50. This follows the release of a trading update for the first half that was well ahead of expectations. And with the domestic market remaining rational and its balance sheet recovering, JP Morgan remains very positive on the company’s outlook. The Qantas share price was trading at $5.80 at the end of last week.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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- Morgans names the best ASX resources shares to buy now
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- Brokers name 3 ASX shares to buy today
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 no position in any of the stocks mentioned. 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 Scott Phillips.
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