The Motley Fool

Top brokers name 3 ASX shares to buy next week

Last week saw a large number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.

Here’s why brokers think investors ought to buy them next week:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Ord Minnett, its analysts have retained their buy rating and lifted the price target on this gaming technology company’s shares to $33.25 ahead of its half year results release next week. The broker likes Aristocrat Leisure due to its strong recurring revenues and believes it is gaining market share in the lucrative North American market. In addition to this, the broker notes that the company has a number of opportunities that could underpin its future growth. I agree with Ord Minnett and feel it would be a great investment option.

REA Group Limited (ASX: REA)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $93.50 price target on this property listings company’s shares following its third quarter update. According to the note, the broker was pleased with REA Group’s performance in the third quarter. And although it suspects that the fourth quarter will be soft, it remains optimistic on the company’s growth prospects in FY 2020. I’m a big fan of REA Group and would have to agree with Macquarie on this recommendation.

Reliance Worldwide Corporation Ltd (ASX: RWC)

Another note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating but trimmed the price target on this plumbing parts company’s shares to $5.90. According to the note, the broker was surprised by the company’s earnings downgrade, but feels that the sell off of its shares was overdone and has created a buying opportunity for investors. I agree with Macquarie. Whilst the downgrade was disappointing, I think the selloff has left its shares trading at a good price for a long term investment.

And here are five more shares that have recently been rated as buys.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

Stock #1 is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Stock #2 is another high-growth business trading near a 52-week low all while offering a 4.7% grossed-up yield...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Reliance Worldwide Limited. The Motley Fool Australia has recommended REA Group Limited and Reliance Worldwide Limited. 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!