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:
Brambles Limited (ASX: BXB)
According to a note out of Citi, its analysts have retained their buy rating and $13.30 price target on this logistic solutions company’s shares following its first quarter update. The broker was pleased with its start to FY 2020, especially given the soft global environment. Citi also noted that its price increases appear to have been a success and haven’t prevented it from winning new contracts. I was impressed with its first quarter update and agree that its shares look good value at the current level.
Cleanaway Waste Management Ltd (ASX: CWY)
Another note out of Citi reveals that it has initiated coverage on this waste management company’s shares with a buy rating and $2.40 price target. According to the note, Cleanaway is the broker’s preferred pick in the space due to its growth profile, strong balance sheet, and attractive valuation. Citi also believes there is the potential for margin expansion, which could support its earnings growth in the future. Whilst it isn’t the most exciting area of the market to invest in, I do think it could be a good long-term option for investors.
ResMed Inc. (ASX: RMD)
Analysts at UBS have retained their buy rating and US$140.00 (~A$20.61) price target on this sleep treatment-focused medical device company’s shares ahead of its quarterly update. According to the note, the broker is confident that demand for sleep treatment products will remain strong in the United States for some time to come and expects ResMed to benefit due to its leadership position. I completely agree with UBS and believe ResMed would be a great buy and hold option.
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 has recommended ResMed Inc. 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