Top brokers name 3 ASX shares to buy next week

Brokers gave the thumbs up to these ASX shares last week. Here's why they are bullish on them…

| More on:
Woman in celebratory fist move looking at phone

Image source: Getty Images

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 investors might want to be aware of are summarised below.

Here's why brokers think investors ought to buy them next week:

Allkem Ltd (ASX: AKE)

According to a note out of Morgans, its analysts have retained their add rating on this lithium miner's shares with a trimmed price target of $14.70. Morgans was reasonably pleased with Allkem's quarterly update, noting that its Olaroz production came in ahead of expectations. And while lithium prices are expected to fall meaningfully in the coming quarter, it notes that prices are still well ahead of its long term expectations. The Allkem share price ended the week at $11.75.

Santos Ltd (ASX: STO)

A note out of Macquarie reveals that its analysts have retained their outperform rating on this energy producer's shares with an improved price target of $9.95. Macquarie was pleased with the company's performance during the last quarter. This has reinforced its view that the company's shares are undervalued at the current level. The Santos share price was fetching $7.16 at Friday's close.

Xero Limited (ASX: XRO)

Analysts at Goldman Sachs have retained their conviction buy rating on this cloud accounting platform provider's shares with a slightly boosted price target of $126.00. Goldman has been looking into app data and believes that Xero is performing at least in line with expectations. In light of this, it remains positive and continues to believe that its shares are trading at a level that makes for an attractive entry point into a compelling global growth story. The Xero share price ended the week at $91.87.

Motley Fool contributor James Mickleboro has positions in Allkem and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

Male building supervisor wearing high vis vest and hard hat stands and smiles with his arms crossed at a building site
Broker Notes

1 ASX 300 stock just upgraded by brokers (and 2 downgraded)

Here's the latest ratings changes.

Read more »

a man in a business suite throws his arms open wide above his head and raises his face with his mouth open in celebration in front of a background of an illuminated board tracking stock market movements.
Broker Notes

Bell Potter names the best ASX 200 stocks to buy in November

These quality stocks are top picks in November according to the broker.

Read more »

A man sees some good news on his phone and gives a little cheer.
Broker Notes

2 ASX 300 shares to buy now for 50% to 80% returns

These shares could have big return potential according to brokers. Let's see what they are saying.

Read more »

Broker looking at the share price.
Broker Notes

3 ASX All Ords shares just got BIG upgrades from top brokers

Leading brokers believe these ASX All Ords stocks could fly higher into 2025.

Read more »

A financial expert or broker looks worried as he checks out a graph showing market volatility.
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

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

Up 45% in 2024! Can ResMed shares keep rising?

Is this high-flying stock destined to keep soaring? Let's see what one broker is saying.

Read more »

A miner stands in front oh an excavator at a mine site
Broker Notes

Broker says buy the dip on ASX 200 uranium share with 69% upside

Shaw and Partners says this ASX uranium stock is trading at an attractive price point right now.

Read more »

A young man punches the air in delight as he reacts to great news on his mobile phone.
Broker Notes

Bell Potter says these ASX stocks are top buys

Let's see why the broker is feeling so bullish on these names.

Read more »