With a large number of trading updates and quarterlies being released this week, brokers across Australia have been kept on their toes.
Unsurprisingly, this has led to a good number of broker notes hitting the wires.
Three buy ratings that caught my eye are listed below. Here's why brokers are bullish on them:
Bravura Solutions Ltd (ASX: BVS)
According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and lifted the price target on this financial services platform provider's shares to $4.50. Macquarie appears confident that Bravura will deliver a strong first half result after industry feedback pointed to strong demand for its offering. I agree with Macquarie on Bravura and think it is one of the best up and coming tech shares on the Australian share market.
GUD Holdings Limited (ASX: GUD)
A note out of UBS reveals that its analysts have upgraded this consumer products company's shares to a buy rating, albeit with a lower price target of $12.30. According to the note, GUD's first half result fell short of the broker's expectations, but it appears confident that it was the result of a short term issue. In light of this and the sizeable pullback in its share price, the broker feels GUD's shares are now in the buy zone. Whilst I think its shares are a lot more attractive after yesterday's decline, I still see more value in some of its peers.
Newcrest Mining Limited (ASX: NCM)
Analysts at Citi have retained their buy rating and lifted the price target on this gold mining giant's shares to $27.35 following its quarterly update. According to the note, the broker thought Newcrest delivered a strong quarter and appears pleased with the performance of its Cadia operation. In addition to this, the broker was pleased to see work begin on the new PC2-3 block cave at Cadia. Although I'm not a buyer of gold shares at this point, I'm a big fan of Newcrest and think it is well worth considering if you want exposure to gold.
