Top brokers name 3 ASX shares to buy next week 19 June 2022
Image source: Getty Images
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:
According to a note out of Ord Minnett, its analysts have resumed coverage on this electronic design software company’s shares with a buy rating and $32.00 price target. Ord Minnett believes Altium will fall well short of its aspirational US$500 million FY 2026 revenue target and is forecasting revenue of US$387 million instead. Despite this, the broker remains bullish on Altium due to its leading position as a provider of an essential tool in electronic design. The Altium share price ended the week at $25.60.
A note out of UBS reveals that its analysts have retained their buy rating but cut their price target on this appliance manufacturer’s shares to $25.00. Although UBS acknowledges that Breville is operating in a challenging environment at present, it doesn’t expect these headwinds to last for too long. Furthermore, it believes that management has the option to pull back on its research and development spending if necessary to support margins. The Breville share price was fetching at $17.00 at Friday’s close.
Analysts at Macquarie have retained their outperform rating but cut their price target on this biotherapeutics giant’s shares to $312.00. According to the note, Macquarie is confident that CSL can deliver solid earnings growth in the coming years. This is being underpinned by improving plasma collections, solid demand for immunoglobulins, the proposed acquisition of Vifor Pharma, and the introduction of the Rika platform. The latter has been developed to collect plasma quicker and more comfortably. The CSL share price ended the week at $255.99.