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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:

LiveTiles Ltd (ASX: LVT)

According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this small cap tech company’s shares to $1.05 following its fourth quarter update. Citi was pleased with LiveTiles’ performance during the quarter and particularly its cash flows. Its analysts appear confident that sales could continue to rise strongly in FY 2020 thanks to its acquisitions and positive momentum for its N3 sales force. Whilst it is a high risk option, I agree that it is a share to buy right now.

Superloop Ltd (ASX: SLC)

A note out of Morgans reveals that its analysts have retained their add rating but trimmed the price target on this telco company’s shares to $1.60. According to the note, the broker still sees a lot of value in the company’s shares after it released its downgraded FY 2020 guidance. Especially given the strong growth potential of its fibre business. I’m not a big fan of Superloop after its horrific performance this year, but I do feel that its shares look very good value after their sharp decline.

Xero Limited (ASX: XRO)

One broker note that really stood out to me last week related to this business and accounting software company. A note out of the Macquarie equities desk revealed that its analysts have upgraded Xero’s shares to an outperform rating from neutral and lifted the price target on them significantly to $76.50. According to the note, the broker believes Xero is well-placed to become a global platform of choice for small businesses. It expects its growth to accelerate as its scales and believes this is still only early days in respect to its long term growth story. I agree with Macquarie and believe Xero would be a great buy and hold investment.

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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 SUPERLOOP FPO. The Motley Fool Australia owns shares of Xero. 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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