Top brokers name 3 ASX stocks to buy next week June 12, 2022


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Last week, a number of broker notes hit the wires again. Three buy ratings that investors might want to know are summarized below.

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

Jumbo Interactive Ltd (ASX:JIN)

According to a note from Morgans, its analysts kept their added rating but cut their price target on the lottery ticket seller’s shares to $18.30. This follows Jumbo’s Investor Day, which the broker came out very positive about its growth prospects. Morgans points out that the company has significant growth opportunities in the United States and through the expansion of its SaaS business into the profitable charitable sector. Jumbo’s stock price ended the week at $14.49.

National Australia Bank Ltd (ASX:NAB)

A note from Macquarie reveals that its analysts have maintained their outperform rating and $34.00 price target on the banking giant’s shares. Macquarie does not seem concerned about the Reserve Bank’s rate hikes and sees the sector’s recent sell-off as a buying opportunity. The broker also points out that banks could benefit from “lazy” term deposit customers who don’t switch to better deals. He believes these could provide a margin boost over the next 12 months. NAB’s stock price was at $28.06 as of Friday’s close.

Goldman Sachs analysts stuck to their buy rating and price target of $118.00 on shares of the cloud-based accounting platform provider. According to the note, the broker remains confident that Xero will be able to execute its subscription price increases while preserving its existing subscriber base. He notes that the company has a strong track record of delivering increases while reducing churn. Xero stock price ended the week at $82.93.


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