Top brokers name 3 ASX stocks to buy next week May 15, 2022
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Last week, a number of broker notes hit the wires again. Three buy ratings that investors might want to know are summarized below.
Here’s why brokers think investors should buy them next week:
According to a note from UBS, its analysts kept their buy rating and $35.90 price target on shares of the student placement and language testing company. This follows news that its CEO, Andrew Barkla, will step down in the coming months. While UBS acknowledges the news as negative, it remains very positive on the company’s outlook and considers it one of the best growth stocks in the Australian equity market. IDP’s stock price ended the week at $23.17.
A note from Goldman Sachs reveals that its analysts have maintained their buy rating and price target of $6.90 on shares of this online travel agent. Ahead of Webjet’s earnings release next week, the broker reiterated its buy rating. He believes the outlook for the business is very positive thanks to the growth of the online channel, its Bedbanks business and its strong balance sheet. The latter gives it the possibility of making targeted acquisitions. Webjet’s stock price reached $5.47 at Friday’s close.
Another note from Goldman Sachs reveals that its analysts kept their buy rating but cut their price target on the cloud accounting platform provider’s stock to $118.00. This follows the release of an annual result that was slightly lower than revenue and subscribers. Despite this, Goldman remains positive and continues to forecast strong growth over the next few years and sees value in its stocks after recent weakness. Xero stock price ended the week at $84.16.