Brokers across Australia have been as busy as ever this week responding to new data and share price movements. This has led to several shares being given buy ratings.
Three which caught my eye are listed below, here’s why brokers are bullish on them:
Macquarie Group Ltd (ASX: MQG)
According to a note out of Morgans, it has retained its add rating and lifted the price target on Macquarie’s shares to $130.70 following the release of its trading update on Tuesday. The broker appears pleased to see Macquarie has had a solid start to the year across most of its business. Furthermore, it suspects that there is upside risk to its earnings from potential realisations of assets. I would agree with Morgans on this one and believe Macquarie would be a great option for investors.
ResMed Inc. (ASX: RMD)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $16.70 price target on this sleep treatment company’s shares. According to the note, the broker has had a deep look into the healthcare sector and continues to see ResMed as a winner from a growing sleep apnea market. I completely agree with Goldman that ResMed is a buy at these levels and continue to see it as one of the best buy and hold investment options on the local market.
Tabcorp Holdings Limited (ASX: TAH)
Analysts at Morgan Stanley have retained their overweight rating and $5.20 price target on this gaming and gambling company’s shares. The broker has held firm with its rating after looking through management’s long-term incentives ahead of its AGM. It appears pleased with the way management is being incentivised to deliver shareholder returns and synergies from its recent acquisition. In order to receive the full benefit of its synergy incentives, management must exceed $130 million in EBITDA synergies and business improvement benefits. While it isn’t a company that I’m a huge fan of, I do agree that this incentive plan appears to be in the best interests of shareholders.
Lastly, here's a a fourth buy-rated share for good measure.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.