Top brokers name 3 ASX shares to buy next week

Brokers are feeling positive about these ASX shares…

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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:

Blackmores Limited (ASX: BKL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and $100 price target on this health supplements company’s shares. The broker notes that there is speculation Blackmores could be a takeover target. Based on other similar transactions, it feels that an offer of $105.00 per share could be made. Credit Suisse suggests that a large multinational that already has operations in Australia would be a suitable suitor. The Blackmores share price ended the week at $93.07.

Integral Diagnostics Ltd (ASX: IDX)

A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this diagnostic imaging services provider’s shares to $5.55. This follows news that the company has agreed to acquire The X-Ray Group for $37.5 million. Citi was pleased with the price paid and expects the deal to be upwards of 5% accretive to earnings per share. In light of this, it has upgraded its earnings estimates and price target accordingly. The Integral Diagnostics share price was fetching $5.06 on Friday.

Liontown Resources Limited (ASX: LTR)

Analysts at Macquarie have retained their outperform rating and $1.70 price target on this lithium developer’s shares. According to the note, Macquarie is bullish on lithium prices thanks to strong demand in China and Liontown is one of its top two picks in the sector. It also sees a number of near term catalysts that could boost its shares. This includes the securing of offtake and funding agreements for the Kathleen Valley lithium project. The Liontown Resources share price ended the week at $1.36.

Should you invest $1,000 in Liontown right now?

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Blackmores Limited. The Motley Fool Australia has recommended Integral Diagnostics Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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