Earlier today I had a look at a few shares which have been rated as sells this week by brokers.
This afternoon I thought I would look at the shares which have found favour with brokers and been given buy ratings.
Three that caught my eye are:
BHP Billiton Limited (ASX: BHP)
According to a note out of the equities desk of Macquarie, its analysts have retained their outperform rating at $32.00 price target on the mining giant's shares. Amongst other things, the broker appears optimistic that BHP could potentially offload its share of the North West Shelf operation for as much as US$5 billion. I would agree with Macquarie that BHP would be a good addition at the current share price. Especially with the improved outlooks for iron ore and oil prices.
Magellan Financial Group Ltd (ASX: MFG)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating on the fund manager and increased the price target on its shares to $29.00. The move was made following Magellan's funds under management update which revealed a 4.5% increase to $58.6 billion. This was driven by strong institutional inflows and was more than Credit Suisse had expected. I've been impressed with Magellan's performance and think it could be worth a look at the current share price.
Westfield Corp Ltd (ASX: WFD)
Analysts at Macquarie have also retained their outperform rating and $9.59 price target on the shopping centre giant. Although the broker notes that its shares may be more expensive than its global peers, it believes its portfolio of existing centres and its development pipeline go some way to justifying this. While I agree that Westfield deserves to trade at a premium to its peers, I wouldn't be a buyer unless its shares came down by around 10% from here.
