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:
CSL Limited (ASX: CSL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this biotherapeutics company’s shares to $300. Macquarie believes CSL is well-positioned for growth thanks to its Idelvion product and its plasma collection network. I agree with Macquarie and would buy CSL shares with a long term view.
Nufarm Limited (ASX: NUF)
Analysts at Morgan Stanley have retained their overweight rating and $7.20 price target on this agricultural chemicals company’s shares. According to the note, the broker remains positive on Nufarm despite its disappointing first quarter update. It believes its issues are temporary and investors should take advantage of its share price weakness. Especially given its massive Omega-3 opportunity. I think Morgan Stanley makes some very good points and it could be worth considering a patient investment.
Telstra Corporation Ltd (ASX: TLS)
According to a note out of Morgans, its analysts have retained their add rating and $4.46 price target on this telco giant’s shares. The broker appears confident that FY 2020 is the bottom of the cycle for Telstra and it’s onwards and upwards from here. In addition to this, Morgans believes Telstra is best positioned to benefit from improving industry conditions. I think Morgans is spot on and feel Telstra is in the buy zone right now.
The post Top brokers name 3 ASX shares to buy next week appeared first on Motley Fool Australia.
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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 AFTERPAY T FPO. The Motley Fool Australia owns shares of Appen 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. 2019