Top brokers name 3 ASX shares to buy next week

Brokers are feeling positive about these ASX shares…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Last week saw a 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:

Bank of Queensland Limited (ASX: BOQ)

According to a note out of Macquarie, its analysts have resumed coverage on this regional bank's shares with an outperform rating with a $10.00 price target. It is expecting Bank of Queensland's deposit volumes to remain strong thanks to its higher interest rates. In addition, the broker believes the risk/reward from its acquisition of ME Bank, which has now complete, is favourable for investors. In light of this, it sees a lot of value in its shares at the current level. The Bank of Queensland share price ended the week at $8.85.

Life360 Inc (ASX: 360)

A note out of Bell Potter reveals that its analysts have retained their buy rating and lifted their price target on this family focused app maker's shares to $9.25. Bell Potter increased its price target to reflect the recent takeover of a comparable company, Nextdoor, on much higher multiples. It believes Life360 is a higher quality company due to its stickier subscription revenues and thus deserves to trade on higher multiples. Though, it is worth noting that its price target still only equates to a forward EV/Revenue multiple of ~10x. Whereas Nextdoor was taken over at ~20x. The Life360 share price ended the week at $7.91.

Praemium Ltd (ASX: PPS)

Analysts at Ord Minnett have retained their buy rating and lifted their price target on this investment platform provider's shares to $1.40. According to the note, the broker was pleased with the company's performance in the fourth quarter. It also notes that Praemium has received strong interest for its international business, which it plans to sell. Ord Minnett believes selling this could make Praemium an attractive acquisition target for one of its larger domestic peers. The Praemium share price was fetching $1.19 at Friday's close.

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 Praemium Limited. The Motley Fool Australia has recommended Praemium Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Broker Notes

A man in trendy clothing sits on a bench in a shopping mall looking at his phone with interest and a surprised look on his face.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

Woman and man calculating a dividend yield.
REITs

What price target does Macquarie have on Goodman Group shares?

Goodman Group posted an interesting set of numbers in Q3. Here's Macquarie's take.

Read more »

Miner looking at a tablet.
Broker Notes

Why Macquarie expects this ASX 200 copper stock to surge 36% in a year

Macquarie forecasts some hefty gains ahead for the ASX 200 copper miner. But why?

Read more »

two women celebrating good news on phone
Broker Notes

Top broker names 3 ASX All Ords stocks with between 30% and 77% upside

These 3 stocks offer compelling potential upside.

Read more »

Woman on her phone with diagrams of tech sector related elements linking with each other.
Broker Notes

A leading fund manager is buying these ASX 200 tech shares

Let's see why the fund manager has these shares in its focus portfolio.

Read more »

A young man wearing a black and white striped t-shirt looks surprised.
Broker Notes

Broker says these ASX 200 shares can rise 40% to 80%

Bell Potter sees scope for these shares to rocket from current levels.

Read more »

A man in his 30s holds his laptop and operates it with his other hand as he has a look of pleasant surprise on his face as though he is learning something new or finding hidden value in something on the screen.
Broker Notes

How this undervalued ASX All Ords share could rocket 80% in a year

A leading fund manager expects a big turnaround for this beaten-down ASX All Ords stock.

Read more »

A car dealer stands amid a selection of cars parked in a showroom.
Broker Notes

Up 77% in a year, guess how much more upside Macquarie tips for Eagers Automotive shares

Macquarie released its latest analysis on Eagers Automotive fast rising shares this morning.

Read more »