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Top brokers name 3 ASX shares to buy next week

James Mickleboro
Buy ASX shares

Last week saw a large number of broker notes hitting the wires once again.

Three buy ratings that caught my eye are summarised below.

Here’s why brokers think investors ought to buy them next week: Ltd (ASX: KGN)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted their price target on this e-commerce company’s shares to $7.37. Credit Suisse believes the recent sell off is a buying opportunity for investors. It suspects that its surprisingly soft trading update was caused by an increase in competition in the TV market. It expects this to be only temporary and remains bullish on its future. Especially given the early success of its Marketplace business. Whilst I think Credit Suisse makes some excellent points, I intend to wait for its half year result before picking up shares.

National Australia Bank Ltd (ASX: NAB)

According to a note out of Goldman Sachs, its analysts have reiterated their conviction buy rating and $29.84 price target on this banking giant’s shares. NAB remains the broker’s preferred bank exposure. This is due to its belief that NAB’s revenue momentum will remain superior to its peers thanks to its overweight exposure to the SME market. It also believes NAB is on track to deliver top-of-peer growth over the next three years. I agree with Goldman Sachs and feel NAB’s shares are in the buy zone.

Super Retail Group Ltd (ASX: SUL)

Analysts at Morgan Stanley have retained their overweight rating and lifted the price target on this retailer’s shares to $10.50. According to the note, the broker has downgraded its estimates for Super Retail due to the negative impact of the bushfires on its businesses. And while it remains cautious on the medium term, it still sees value in its shares at the current level and has retained its overweight rating. I agree with Morgan Stanley and feel Super Retail’s shares are great value.

The post Top brokers name 3 ASX shares to buy next week appeared first on 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 owns shares of National Australia Bank Limited and Super Retail Group Limited. The Motley Fool Australia has recommended ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020