Top brokers name 3 ASX shares to buy next week

With so many shares to choose from on the Australian share market, it can be hard to decide which ones to buy.

Fortunately, brokers across the country have attempted to narrow things down by picking out a few shares that they think you should invest in right now.

Three buy recommendations that caught my eye are listed below. Here’s why they like them:

Cleanaway Waste Management Ltd (ASX: CWY)

According to a note out of the Macquarie equities desk, its analysts have retained their buy rating and $2.40 price target on this waste management company’s shares following its annual general meeting last week. The broker appeared to be pleased to see that trading was in line with expectations and that its Toxfree acquisition was integrating well. In addition to this, Macquarie likes Cleanaway due to its earnings visibility and growth profile. While I do agree that Cleanaway is a buy, it’s not my first pick in the waste management industry.

Qantas Airways Limited (ASX: QAN)

A note out of Goldman Sachs reveals that it has held firm with its buy rating and $6.85 price target on this leading airline’s shares. According to the note, the broker thought that Qantas’ first quarter was solid and feels confident that strong pricing momentum will allow the company to recover increased fuel costs this year. Furthermore, Goldman believes that the quality and diversity of the Qantas portfolio not only provides greater earnings and cash flow stability, but also more fleet and scheduling options to underpin profitable growth going forward. I think that Goldman makes a great point and Qantas could be worth a closer look.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Analysts at Credit Suisse have upgraded this plumbing parts company’s shares to an outperform rating but cut their price target slightly to $5.60. According to the note, the broker made the move after its shares re-rated to be in line with its peers despite there being no deterioration in its core markets. In addition to this, the broker has seen no impact from the trial of competing product by Home Depot in the United States. While I do like Reliance Worldwide and think it would be a good long-term option, I would prefer to buy in at a lower price

Analyst names tech share as top pick

Scott Phillips has stumbled upon a little-owned stock he believes could be one of the greatest discoveries of his 25 years as a professional investor.


This is your chance to get in early on of what could prove to be a very special investment recommendation. Think about how many investing trends you've missed out on, even though you knew they were going to be big. Don't let that happen again. This is your chance to get in early.

Simply click here to get started and access our secure sign-up page.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.