Top brokers name 3 ASX shares to buy next week 31 July 2022 – Michmutters

Top brokers name 3 ASX shares to buy next week 31 July 2022

A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks

Image source: Getty Images

Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarized below.

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

Coronado Global Resources Inc (ASX: CRN)

According to a note out of Goldman Sachs, its analysts have retained their buy rating but trimmed their price target on this coal miner’s shares to $2.15. Although Coronado delivered a second-quarter update that was short of Goldman’s expectations, it remains bullish. This is due to its “compelling” valuation and strong free cash flow generation. The latter is expected to underpin huge dividend payments in the next couple of years. The Coronado Global share price ended the week at $1.41.

Mineral Resources Limited (ASX:MIN)

Analysts at Citi have retained their buy rating and $73.00 price target on this mining and mining services company. Citi is positive on Mineral Resources due to its exposure to iron ore and lithium. Its analysts expect the price of the latter to stay higher for longer thanks to strong demand and tight supply. The Mineral Resources share price was fetching $53.74 at Friday’s close.

Telstra Corporation Ltd (ASX:TLS)

Analysts at Credit Suisse have retained their outperform rating and $4.50 price target on this telco giant’s shares. The broker has been running the rule over the company’s impending Multi Operator Core Network agreement with TPG Telecom Ltd (ASX:TPG). It is expecting the agreement to be accretive to Telstra’s earnings if the ACCC gives the deal its approval. Outside this, the broker is positive on the telco partly due to favorable trends in the key mobile business. The Telstra share price ended the week at $3.89.

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