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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:

Afterpay Touch Group Ltd (ASX: APT)

A note out of Ord Minnett reveals that its analysts have held firm with their buy rating but cut the price target on Afterpay Touch’s shares down to $18.00. According to the note, the broker believes the company’s strong start to life in the United States is a sign that the Afterpay platform has significant appeal with global retailers and consumers. Its analysts also believe that the recent ASIC review into the industry was a positive and nothing to fear. I’m a big fan of the company and expect it to do very well in the United States. However, it is worth noting that a lot of success appears to have already been baked into its share price. This could lead to its shares coming under pressure if its growth falls short of expectations. I’d class it as a high risk buy.

CSL Limited (ASX: CSL)

According to a note out of UBS, it has retained its buy rating and $216.00 price target on this biotherapeutics company’s shares following its research and development update last week. The broker appears to be feeling confident that CSL’s revenue growth will be underpinned by core plasma product strength and the ongoing market penetration of a number of products launched in recent years including Haegarda, Idelvion and Kcentra. I agree with this view and think CSL would be well worth considering next week.

ResMed Inc. (ASX: RMD)

Analysts at Morgan Stanley have retained their overweight rating and $16.80 price target on this sleep treatment specialist’s shares following its acquisition of Propeller Health for US$225 million. The broker appears pleased that the acquisition of Propeller Health, a therapeutics company providing digital connected care for patients with chronic obstructive pulmonary disease (COPD), is likely to lead to the company further developing its suite of COPD products. I think that Morgan Stanley is spot on with this one and would suggest investors consider picking up its shares with a long term view.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended ResMed Inc. 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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