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Top brokers name 3 ASX stocks to buy next week 16 Oct 2022

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Last week, a number of brokers’ notes found their way back into banknotes. Three buy ratings investors may want to be aware of are listed below.

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

Analysts at Morgans maintained their outperform rating on the mining giant’s stock with a cut price target of $47.40, Morgans said. Morgan looked at the mining sector and named BHP as one of its top two picks. This is due to its strong free cash flow, low risk profile and belief that less can go wrong compared to peers. BHP’s share price ended the week at $40.02.

Bank of Queensland Ltd (ASX: BOQ)

A note from Citi indicated that its analysts maintained a buy rating and a $8.75 price target on the regional bank’s stock. ​​​​​​​While the Bank of Queensland’s 2022 cash earnings were below consensus estimates, the broker highlights positive comments on interest rate leverage. He believes that the market has underestimated the extent of the impact of rates in the sector. And while he’s disappointed with the spending forecast, he expects that to be offset by higher rates. Bank of Queensland shares closed at $7.73 on Friday.

Qantas Airways Limited (ASX: QAN)

Analysts at JP Morgan maintained their overweight rating and raised their price target on the airline’s shares to $7.50. This followed the release of a first-half trading update that came in well ahead of expectations. As the domestic market remains rational and its balance sheet is recovering, JP Morgan remains very positive on the company’s outlook. Qantas shares traded at $5.80 at the end of last week.

https://www.fool.com.au/2022/10/16/top-brokers-name-3-asx-shares-to-buy-next-week-135/

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