While the S&P/ASX 200 Index (ASX: XJO) has risen more than 50% from the COVID-19 low in March 2020, there are some ASX shares that have gone down the gurgler.

For some, the price plunge was entirely self-inflicted, while for others external forces conspired to bring down their prospects.

However, with NSW now reaching 80% double-vaccination coverage and about to end quarantine for incoming travellers, will these ASX shares return to their pre-COVID glory?

One market commentator certainly thinks there are some beaten-up ASX shares that might reward long-term investors.

“Patience is an asset,” said Switzer Financial Group founder Peter Switzer on Youtube.

“You can try and trade by buying a stock and flipping it once you’re happy with the gain that you’ve made. But timing can be tricky, just like betting on the four-legged lottery on Melbourne Cup day.”

Here are 3 punished stocks that Switzer holds out hope for.

‘Huge customers’ and ‘certainly believable’ potential

Nuix Ltd (ASX: NXL) only listed in December but its shareholders might feel like they’ve lived through a lifetime this year.

After an initial public offering (IPO) that saw Nuix shares issued at $5.31, the software company shot up above $11 in January before a series of financial downgrades and governance scandals deflated momentum.

On Friday, Nuix shares finished the session at $2.58 but Switzer suspects this low might be a buying opportunity.

“Analysts believe the company has a target price that suggests it could go up 156%,” he said.

“Even if they’re only half-right, I’d be happy with half of 156%.”

Nuix provides analytics software that allows large institutions, like law enforcement, to make sense of huge troves of unstructured data, such as emails.

“It has huge customers in both the public and the private domain and it was a hugely successful company until all this misreporting really lowered the boom,” said Switzer.

“The potential for the company still is certainly believable.”

ASX share with 77% upside potential

Machine learning services provider Appen Ltd (ASX: APX) has seen its shares drop 73% over the past year.

The company has lost revenue from its mainly US-based clients, who have withdrawn non-essential spending since the arrival of the coronavirus pandemic.

But Switzer still has faith in Appen’s long-term prospects.

“This is a company that’s really well-positioned for the future of business, because it’s in artificial intelligence, it’s in machine learning — and it’s got some pretty big customers out there,” he said.

“This is a company that, when business gets back to normal, it’ll actually start to improve.”

According to Switzer, 4 of the big broking houses have a target price well above Friday’s closing share price of $9.65. The lowest is $11 from Credit Suisse, while Citi is the most bullish at $17.

If Appen reaches Citi’s price target, investors buying at Friday’s price will gain 76%.

Give this stock one more year before you give up

Of course, long-term investing doesn’t mean one should recklessly hold onto a stock out of blind faith.

Sometimes, if a business has changed for the worse, you have to cut it loose to prevent further damage to the portfolio.

A2 Milk Company Ltd (ASX: A2M) shares have lost 66% since their July 2020 highs due to the company’s Chinese sales channel plummeting because of international travel bans.

But Switzer reckons shareholders should give it a bit more time before completely condemning the stock.

“I don’t know when A2 Milk will be out of the woods but I am going to give it another year,” he said.

“This is a quality company … the future will look good for this company, but it just might take some time before that future comes to reality.”

The post 3 punished ASX shares that could come roaring back appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to sell next week
• These were the best performing ASX 200 shares last week
• Top brokers name 3 ASX shares to sell today
• Could the A2 Milk (ASX:A2M) share price hit $8 by the end of 2021?
• Analysts name 3 excellent ASX growth shares to buy

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Tony Yoo owns shares of A2 Milk and Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. 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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If you’re planning to add some growth shares to your portfolio, then you may want to look at the shares listed below.

All three of these ASX growth shares have been tipped as buys recently. Here’s what you need to know about them:

Breville Group Ltd (ASX: BRG)

The first ASX growth share to look at is Breville. It is the leading appliance manufacturer behind a collection of brands including Sage and the eponymous Breville brand. Over the last decade, the company has been growing at a solid rate. This has been driven by acquisitions, its international expansion, and its continued investment in research and development. The latter is ensuring that Breville has a strong and innovative product portfolio that resonates well with consumers.

Morgans is positive on the company’s long term growth outlook. As a result, its analysts currently have an add rating and $34.00 price target on its shares.

Life360 Inc (ASX: 360)

Another highly rated ASX growth share to look at is Life360. It is the growing technology company behind the Life360 mobile app. This is an app used by 32.3 million people each month (an increase of 28% year on year), offering features such as communications, driver safety, and location sharing. Life360 has also recently expanded into the wearables market, increasing its total addressable market and opening up cross selling opportunities. This and the further monetisation of its customer base looks set to underpin strong revenue growth in the coming years. As of Life360’s last update, the company’s annualised monthly revenue (AMR) was up 36% to US$105.9 million.

Bell Potter is fan of the company. It currently has a buy rating and $10.75 price target on Life360’s shares.

PointsBet Holdings Ltd (ASX: PBH)

A final growth share for investors to look at is PointsBet. It is a sports wagering operator and iGaming provider with operations in the ANZ, Canadian, and US markets. PointsBet offers innovative sports betting products and services via its scalable cloud-based platform. It has been growing at a rapid rate thanks to the increasing popularity of mobile sports betting and innovative new products.

Goldman Sachs currently has a buy rating and $14.75 price target on the company’s shares. It is positive on PointsBet’s long term growth prospects due to its massive US opportunity.

The post 3 highly rated ASX growth shares to buy appeared first on The Motley Fool Australia.

More reading

• Why A2 Milk, EOS, GUD, & PointsBet shares are charging higher
• PointsBet (ASX:PBH) share price lifts following Canada update
• 2 ASX shares delivering rapid growth
• 3 excellent ASX growth shares to buy now
• Could the PointsBet (ASX:PBH) share price hit $15 by the end of 2021?

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 shares of and has recommended Life360, Inc. and Pointsbet Holdings Ltd. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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On Friday the S&P/ASX 200 Index (ASX: XJO) was on form and finished the week on a positive note. The benchmark index rose 0.7% to 7,362 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to rise

The Australian share market looks set to start the week on a positive note. According to the latest SPI futures, the ASX 200 is expected to open the day 31 points or 0.4% higher this morning. This follows a strong end to the week on Wall Street, which saw the Dow Jones rise 1.1%, the S&P 500 climb 0.75%, and the Nasdaq push 0.5% higher.

Oil prices rise

Energy producers such as Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a solid start to the week after oil prices rose on Friday night. According to Bloomberg, the WTI crude oil price is up 1.2% to US$82.28 a barrel and the Brent crude oil price has risen 1% to US$84.86 a barrel. Oil prices climbed to three-year highs amid supply deficit forecasts.

Rio Tinto named as a buy

The Rio Tinto Limited (ASX: RIO) share price could be in the buy zone according to analysts at Goldman Sachs. In response to its third quarter update, the broker has put a buy rating and $122.40 price target on the mining giant’s shares. It said: “We note the new guidance is in-line with GSe and the Sep Q production was overall in-line or a touch better than GSe.”

Gold price sinks

Gold miners Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could start the week in the red after the gold price tumbled lower on Friday night. According to CNBC, the spot gold price fell 1.7% to US$1,768.30 an ounce. Improving investor sentiment appears to have weighed on the safe haven asset.

Iron ore price falls

BHP Group Ltd (ASX: BHP) and Fortescue Metals Group Limited (ASX: FMG) shares will be on watch after the spot iron ore price softened on Friday night. According to Metal Bulletin, the benchmark iron ore price fell 0.5% to US$125.22 a tonne. This iron ore price recorded a small weekly gain during another volatile week.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

More reading

• Can the BHP share price hit $56 by the end of 2021?
• Top brokers name 3 ASX shares to buy next week
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week
• Here are the top 10 ASX shares 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 Bruce Jackson.

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The tech sector is home to a number of companies with strong growth potential.

Two that are highly rated are listed below. Here’s what you need to know about these tech shares:

Adore Beauty Group Limited (ASX: ABY)

The first tech share to consider is Australia’s leading online beauty retailer, Adore Beauty.

Though, calling it just an online beauty retailer is a bit of a disservice as it is so much more. Since launching in 2000, Adore Beauty has evolved into an integrated content, marketing and e-commerce retail platform that partners with a broad and diverse portfolio of approximately 260 brands and 10,800 products.

It has been growing strongly over the last few years and this has continued in FY 2022. Adore Beauty released its first quarter update last week and reported a 25% increase in revenue to $63.8 million. This was underpinned by a 24% jump in active customers to 874,000 and returning customer growth of 63%.

Positively, even when annualised, this is just a fraction of the beauty and personal care (BPC) market in Australia which is estimated to be worth $11.2 billion. Furthermore, it is expected to grow at a 26% CAGR through to 2024.

Morgan Stanley is a fan of the company. It currently has an overweight rating and $6.00 price target on its shares.

Nitro Software Ltd (ASX: NTO)

Another ASX tech share to look at is Nitro Software. It is a software company that is aiming to drive digital transformation in organisations around the world with its Nitro Productivity Suite. The Nitro Productivity Suite provides integrated PDF productivity and electronic signature tools to customers through a horizontal, software-as-a-service, and desktop-based software solution.

In FY 2021, Nitro is aiming for annualised recurring revenue (ARR) of between US$39 million and US$42 million. This will be up strongly year on year but still well short of its total addressable market which is estimated to be $28 billion.

The team at UBS are very positive on Nitro. Last week they initiated coverage on the company with a buy rating and $4.70 price target. The broker believes Nitro’s ARR could surpass US$100 million by FY 2024.

The post 2 excellent ASX tech shares tipped for big things appeared first on The Motley Fool Australia.

More reading

• Top brokers name 3 ASX shares to buy today
• Adore Beauty (ASX:ABY) share price up 4% on Q1 update
• Brokers name 2 small cap ASX shares to buy
• 3 ASX shares to buy this week
• 2 leading ASX e-commerce shares that could be buys in October 2021

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 recommended Adore Beauty Group Limited. The Motley Fool Australia has recommended Nitro Software Limited. 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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The Oil Search Ltd (ASX: OSH) share price has been outperforming the market in 2021.

Since the start of the year, the energy producer’s shares have risen an impressive 20%.

This is double the return of the S&P/ASX 200 Index (ASX: XJO) over the same period.

Could the Oil Search share price hit $5.00 by the end of the year?

Pleasingly for shareholders, one leading broker believes the Oil Search share price could keep rising from here.

According to a recent note out of Ord Minnett, its analysts have a buy rating and $5.20 price target on its shares.

Based on the current Oil Search share price of $4.52, this implies potential upside of 15% for investors before dividends.

Ord Minnett is also forecasting a dividend of 13.3 cents per share in FY 2022. If we add this into the equation, it will bring the total potential return to ~18%.

All in all, the broker clearly sees the potential for Oil Search shares to be trading at $5.00 or even higher by the end of the year.

Why is it positive on the company?

Ord Minnett has been pleased with the company’s performance in FY 2021. Particularly with its earnings outperformance during the first half and its much stronger than expected free cash flow.

In addition, the broker is very positive on its proposed merger with fellow energy producer Santos Ltd (ASX: STO).

Its analysts think the merger is a good idea and expects it to create value for both sets of shareholders.

For this reason, Ord Minnett also has a buy rating on Santos shares with a price target of $8.05. In fact, Santos is the broker’s top pick in the sector right now.

The post Could the Oil Search (ASX:OSH) share price hit $5 by the end of 2021? appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Thursday
• ASX 200 energy shares rise amid market sell-off
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• What’s driving oil prices higher and which ASX shares are benefitting?

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Could it be possible for that Flight Centre Travel Group Ltd (ASX: FLT) share price to fall to less than $14 before Christmas?

There are plenty of brokers out there that have price targets for Flight Centre shares that are less than the current level.

However, there is one broker that has a particularly negative outlook for the ASX travel share.

What is the Flight Centre share price target?

The broker Ord Minnett has a price target of just $13.72. That implies the broker believes that Flight Centre shares could fall by around 40% over the next 12 months.

It’s not just COVID-19 impacts that the broker is thinking about. Ord Minnett is taking into account how the travel agency industry has changed and is changing. The broker believes that Flight Centre’s margins are going to be impacted and it needs to cut expenses to ensure that its profit isn’t materially hurt.

Despite that, Ord Minnett thinks that Flight Centre is going to return to making profit in FY23 as well as paying a dividend.

The broker has pencilled in a dividend of around $0.14 per share in FY23.

At the current Flight Centre share price, Ord Minnett believes that it’s valued at 48x FY23’s estimated earnings.

However, not all brokers are as negative on Flight Centre. One of the most recent broker ratings is a neutral rating from UBS, with more positivity due to the higher vaccination coverage. The UBS price target on Flight Centre is $18.85.

UBS reckons that Flight Centre shares are valued at 32x FY23’s estimated earnings.

How is the ASX travel share performing?

Over the last two months the Flight Centre share price has risen by around 60%.

In reporting season, the company said that it generated an underlying loss in line with its guidance at $507 million.

However, the business noted that the recovery was/is gaining momentum, particularly in the corporate sector and in the US.

It said that it was achieving month on month revenue growth despite COVID-19 impacts. Corporate total transaction value (TTV) was tracking at 40% of pre-COVID levels globally by the year end. It also experienced a “rapid” leisure and corporate recovery in the US late in the further quarter.

Flight Centre said that it was targeting a return to monthly profitability in both corporate and leisure during FY22.

The company mentioned that thr profitability forecast included the resumption of further international travel, with the potential “material benefit” from the trans-Atlantic reopening.

It was only in the last couple of days that the US has announced that it’s going to open up its borders to vaccinated passengers from dozens of countries, who won’t have to quarantine. Those countries include the UK, India, France, Germany, Italy, Spain and so on.

The US is also opening up its land borders with Canada and Mexico for fully vaccinated foreign nationals.

The post Could the Flight Centre (ASX:FLT) share price hit $13.50 by Christmas? appeared first on The Motley Fool Australia.

More reading

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• Flight Centre (ASX:FLT) share price jumps as boss applauds NSW quarantine stance
• Why ARB, Flight Centre, HUB24, and Qantas shares are rising today
• Why did the Flight Centre (ASX:FLT) share price have such a great FY22 first quarter?
• NSW has reopened. Time to buy?

Motley Fool contributor Tristan Harrison 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 recommended Flight Centre Travel Group Limited. 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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If you’re an income investor and don’t already have meaningful exposure to the banking sector, then the Australia and New Zealand Banking GrpLtd (ASX: ANZ) dividend could be worth considering.

That’s the view of one of Australia’s leading brokers.

Why might the ANZ dividend be a good option?

According to a recent note out of Bell Potter, its analysts are very positive on the big four bank and expect the ANZ dividend to grow at a decent rate in the coming years.

The broker has pencilled in a fully franked $1.30 per share dividend in FY 2021. After which, it is forecasting increases to $1.40 per share in FY 2022 and then $1.50 per share in FY 2023.

Based on the current ANZ share price of $27.87, this will mean yields of 4.7%, 5%, and 5.4%, respectively, over the three financial years.

But the returns don’t stop at the ANZ dividend. Bell Potter also sees decent upside for the bank’s shares over the next 12 months.

Where is the ANZ share price heading from here?

The note reveals that Bell Potter currently has a buy rating and $31.00 price target on the company’s shares.

Based on where the ANZ share price finished the week, this suggests that there’s potential upside of 11% for investors. And if you add the ANZ dividend into the equation, the total potential return stretches to approximately 16%.

That’s not bad at all considering the ANZ share price is already smashing the market in 2021. Its shares are up an impressive 21% since the start of the year compared to a gain of 10% for the ASX 200.

Fortunately, judging by what Bell Potter is saying, it doesn’t appear to be too late for income investors to pick up shares when the market reopens next week.

The post Should you buy ANZ (ASX:ANZ) shares in October for the dividend yield? appeared first on The Motley Fool Australia.

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• The ANZ (ASX:ANZ) dividend yield is topping the big four ASX bank shares
• Could the ANZ (ASX:ANZ) share price reach $35 by Christmas?
• How did ASX bank shares perform in the last quarter?
• 2 ASX 200 dividend shares to buy next week

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 Bruce Jackson.

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Is it possible that the BHP Group Ltd (ASX: BHP) share price could reach $56 by the end of the year?

The brokers at Macquarie Group Ltd (ASX: MQG) have had their say on where they think that BHP shares are going.

A price target says where a broker believes a share price will be in 12 months from now. So, not necessarily where the shares may be in a couple of months by the end of 2021.

What is the price target for the BHP share price?

Macquarie currently has a price target of $56 on BHP. That suggests that BHP shares could rise by around 44% over the next 12 months, if they broker is right.

Whilst the iron price has been volatile, and has dropped, it is the high commodity prices of BHP’s other resources that are helping make up for the decline of iron.

In-particular, it is the strong coal price that is one of the factors in the broker’s mind about BHP.

Looking at the estimates for the next couple of years, Macquarie thinks BHP could pay a grossed-up dividend yield of 14.6% in FY22 and 10.6% in FY23.

The profit estimates put the BHP share price at 8x FY22’s projected earnings and 11x FY23’s estimated earnings.

In FY21, the business made most of its underlying earnings before interest and tax (EBIT) from iron ore. Of the total US$30.3 billion of underlying EBIT, iron ore contributed US$24.3 billion of it and copper contributed US$6.8 billion.

Major strategy moves

The company has made strategic moves that could affect the BHP share price over the next 12 months. For example, it’s planning to merge its petroleum business with Woodside Petroleum Limited (ASX: WPL).

The proposed merger would create a global top 10 energy company by production, with a global top 10 position in the LNG industry, and would be the largest energy company listed on the ASX.

BHP said that with the combination of two high-quality asset portfolios, the combined business will have a high margin oil portfolio, long life LNG assets and the financial resilience to help supply the energy needed for global growth and development over the energy transition. There are estimated synergies of more than US$400 million from optimising corporate processes and systems, leveraging combined capabilities and improving capital efficiency on future growth projects and exploration.

Another asset that could impact the BHP share price for a long time to come is the Jansen Stage 1 potash project, which BHP has approved to spend US$5.7 billion on capital expenditure in Canada.

BHP says that potash is a future facing commodity and Jansen is aligned with BHP’s strategy of growing its exposure to future facing commodities in “world class” assets that are large, low cost and expandable.

Management say that potash provides BHP with increased leverage to key global mega-trends including rising population, changing diets, decarbonisation and improving environmental stewardship.

The post Can the BHP share price hit $56 by the end of 2021? appeared first on The Motley Fool Australia.

More reading

• Legal risk just increased for the Westpac (ASX:WBC) share price
• BHP (ASX:BHP) share price climbs as miner hones in on ESG future
• Own BHP (ASX:BHP) shares? Here’s the miner’s latest push to reduce emissions
• 5 things to watch on the ASX 200 on Thursday
• Why did the BHP (ASX:BHP) share price have such a lousy FY22 first quarter?

Motley Fool contributor Tristan Harrison 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 owns shares of and has recommended Macquarie Group Limited. 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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The Afterpay Ltd (ASX: APT) share price ended up having a pretty decent day of trading on Friday. This buy now, pay later (BNPL) share ended the trading day up a healthy 1.74% to $122.78 a share. That compared pretty well to the broader S&P/ASX 200 Index (ASX: XJO), which also ended the day higher but at a far more muted gain of 0.69%.

But zooming out a little, and the picture doesn’t quite look as bright for Afterpay. Over the past 3 weeks or so, this company has lost a little over 7% of its value. Afterpay shares were trading at a price of $132.11 back on Friday 23 September, but taking its last share price on Friday, we see a drop of 7.06% over those 3 weeks.

So what’s going on with Afterpay lately?

Why is the Afterpay share price down 7% in 3 weeks?

Well, the first thing to note is that it’s not just Afterpay shares that have been under pressure over the past 3 weeks. the entire ASX tech sector has taken a beating. The S&P/ASX All Technology Index (ASX: XTX) is also down around 3.1% over the same period. With many other ASX growth shares suffering similar fates. We can probably blame general market volatility, as well as a rise in the US 10-year Treasury bond yield, as underlying factors contributing to these woes in the ASX tech space.

But there’s another factor that could be playing into Afterpay shares’ woes too. As most investors would know by now, Afterpay’s days on the ASX are probably numbered. The company announced back in August that it is soon to be acquired by the US payments giant Square Inc (NYSE: SQ). Square offered up an all-scrip deal. This will see Afterpay shareholders receive 0.375 shares of Square for every Afterpay share owned.

This inherently ties the value of the Afterpay share price to that of Square shares. That’s because the ratio of Square shares that Afterpay investors will receive is fixed.

And lo and behold, the Square share price has also been struggling in recent weeks. Since 24 September, Square is down by roughly 5.75% (as of Thursday’s US market close). This would have also fed into investor sentiment for Afterpay shares over this time.

At Afterpay’s last closing share price of $122.78, this BNPL company has a market capitalisation of $35.03 billion.

The post Why has the Afterpay (ASX:APT) share price lost 7% in 3 weeks? appeared first on The Motley Fool Australia.

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• Own Afterpay (ASX:APT) shares? This little-known company is aiming to disrupt the BNPL sector
• These ASX tech shares are lighting up the ASX 200 today
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• Zip (ASX:Z1P) share price on watch after broker downgrade
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Motley Fool contributor Sebastian Bowen owns shares of Square. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and Square. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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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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:

HUB24 Ltd (ASX: HUB)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this investment platform provider’s shares to $36.50. The broker was pleased with HUB24’s performance during the first quarter, noting that it delivered fund inflows well ahead of its forecasts. It also suspects that this level of inflows could be sustainable given there doesn’t appear to have been any large one-offs during the period. The HUB24 share price ended the week at $33.06.

Newcrest Mining Ltd (ASX: NCM)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this gold miner’s shares slightly to $30.50. Goldman continues to see a lot of value in the company’s shares. This is due to its growth pipeline, its belief that the company’s earnings will hold up despite production declines, and its attractive valuation compared to peers. The Newcrest share price was fetching $24.67 at Friday’s close.

Redbubble Ltd (ASX: RBL)

Analysts at Morgans have retained their add rating and increased their price target on this ecommerce company’s shares ever so slightly to $4.84. According to the note, Redbubble’s first quarter update fell short of its expectations. However, the broker notes that Redbubble was cycling very strong sales in the prior corresponding period. In light of this, it feels investors should focus more on the long term, which it remains very positive on. Though, it concedes that it would like to see evidence of an ability to improve customer loyalty before becoming even more positive. The Redbubble share price ended the week at $3.98.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

More reading

• Top broker tips Redbubble (ASX:RBL) share price to jump 22%
• These were the best performing ASX 200 shares last week
• Why ARB, Flight Centre, HUB24, and Qantas shares are rising today
• The final Hub24 (ASX:HUB) dividend is being paid today. Here’s what you should know
• 5 things to watch on the ASX 200 on Friday

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 shares of and has recommended Hub24 Ltd. The Motley Fool Australia has recommended Hub24 Ltd. 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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