Top brokers name 3 ASX shares to buy next week

Top brokers have named Appen Ltd (ASX:APX) and these ASX shares as buys for next week. Here’s why they are bullish on them…

| More on:
asx buy

Image source: Getty Images

Last week saw a 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:

Appen Ltd (ASX: APX)

According to a note out of Macquarie, its analysts have retained their outperform rating but cut the price target on this artificial intelligence services company’s shares to $27.00. The broker notes that the Appen share price has pulled back materially over the last few months due COVID headwinds. It sees this as a buying opportunity and expects these headwinds to ease in 2021. Though, it does note that foreign exchange headwinds are unlikely to be going away any time soon. Hence why the broker has reduced its price target. The Appen share price ended the week at $22.70.


Analysts at Morgans have retained their add rating and $13.89 price target on this data centre operator’s shares. According to the note, the broker believes that NEXTDC is on course to at least achieve its guidance in FY 2021 and expects it to be reiterated at its half year results. Looking further ahead, Morgans believes NEXTDC’s outlook is very positive thanks to the structural shift to the cloud. The NEXTDC share price last traded at $11.81.

ResMed Inc. (ASX: RMD)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating but trimmed the price target on this medical device company’s shares to $29.50. According to the note, the broker is expecting ResMed to report strong mask sales in FY 2021 due to COVID-19 related re-supplies. In addition to this, the broker believes ResMed is well-placed to benefit from the shift to home healthcare thanks to its high level of investment in out of hospital solutions in recent years. The ResMed share price ended the week at $27.90.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Appen Ltd. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News