Wednesday , April 1 2020
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Top broker names 3 ASX shares to buy next week // Motley Fool Australia

Last week saw a large number of broker records hit the wire once again. The three buying ratings that interest me are summarized below.

Here's why brokers think investors should buy it next week:

According to notes from UBS, analysts have maintained buy The rating but cut the price target on this baby formula and fresh milk company shares slightly to NZ $ 16.10 (~ A $ 15.00). Brokers made a slight adjustment to the target price after taking into account data showing lower infant formula export volumes than Christchurch in September. Even so, it still expects positive updates at the company's annual general meeting next month and remains bullish on its long-term prospects. I agree with UBS and will also be the buyer of the shares.

Fortescue Metals Group Limited (ASX: FMG)

Analyst at Goldman Sachs has maintained buy ranked and raised the price target on the shares of this iron ore producer to $ 9.70. According to the note, Goldman was pleased with the first quarter update. Fortescue shipments are as expected, while the costs are lower than expected. Overall, despite the strong rise in share prices this year, he still sees a lot of value in his shares. I think Goldman is right and feels Fortescue will be a good choice if the price of iron ore remains profitable.

Treasury Wine Estates Ltd (ASX: TWE)

Other notes from UBS revealed that analysts have maintained buy ranking and target price of $ 20.50 on the shares of this wine company. According to the note, brokers have looked into industry data and believe Treasury Wine may have lost a bit of its market share in the United States. While this has caused a slight decline in estimates, brokers have remained positive for the company. This is largely due to attractive valuations and increased cash flow. I think UBS has made a good call for this one.

And here are three more quality stocks that have just been mentioned by a prominent analyst strong buy.

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Motley Fool contributor James Mickleboro does not have a position in one of the shares mentioned. Motley Fool Australia has a stake and has recommended Treasury Wine Estates Limited. Motley Fool Australia has A2 Milk stock. We fools may not all have the same opinion, but we all believe that taking into account various insights makes us better investors. Motley Fool has a disclosure policy. This article only contains general investment advice (under AFSL 400691). Authorized by Scott Phillips.

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