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Top brokers name 3 ASX shares to buy next week

Last week there were a number of broker notes released that caught my eye.

Three notable buy recommendations that I think are worth acting on next week are summarised below.

Here’s why brokers like them:

BHP Billiton Limited (ASX: BHP)

A note out of the Macquarie equities desk reveals that it has retained its outperform rating and $40.00 price target on this mining giant’s shares. According to the note, the broker believes that BHP has resumed its earnings upgrade cycle thanks to the key commodities it produces trading above the market’s short term and medium term forecasts. The broker suggests investors choose BHP ahead of rival Rio Tinto Limited (ASX: RIO). I agree with Macquarie on this recommendation and think BHP would be a great option for investors.

Breville Group Ltd (ASX: BRG)

According to a note out of Ord Minnett, it has retained its buy rating and $15.16 price target on this kitchen appliance company. The broker believes that recent weakness in the company’s share price brought about by trade war concerns could be a buying opportunity for investors. Although some of Breville’s products have been caught up in the United States and China trade war, the broker doesn’t believe it will be hard for the company to offset the tariffs through price increases. I agree with this view and think the recent pullback has presented a good entry point for investors willing to make a buy and hold investment.

Costa Group Holdings Ltd (ASX: CGC)

Analysts at UBS have upgraded this horticulture company’s shares to a buy rating from neutral with a price target of $8.20. UBS made the move partly on valuation grounds after a meaningful pullback in its share price since its soft earnings release last month. Further supporting its buy thesis are stronger wholesale produce pricing and the company’s medium term growth projects. I agree with UBS on Costa Group and think that its shares are reasonable value now for growth investors.

Here's a fourth buy-rated share to consider next week. Do you own it?

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended COSTA GRP FPO. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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