A good number of broker notes have continued to hit the wires this week, leading to a number of shares been declared buys and sells.
Three shares that are in favour with brokers and been given a buy rating are listed below. Here's why they are bullish on them:
Nufarm Limited (ASX: NUF)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating but cut the price target on this crop protection and specialist seeds company's shares to $8.00. The broker has noted that trading conditions in the European and North American markets have improved after drought conditions in Germany and Poland eased and moisture in key U.S. areas reached favourable levels. In addition to this, the broker believes that the selling of Nufarm's shares has been overdone and created a buying opportunity. Whilst it isn't a share that I'm a big fan of, it does look good value at current prices.
Telstra Corporation Ltd (ASX: TLS)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $3.70 price target on Telstra's shares after reviewing the telco industry. According to the note, the broker believes that Telstra is the best option in the industry and well-placed to hit the top end of its FY 2019 underlying guidance. Looking ahead, the broker expects continued subscriber momentum, its improving mobile ARPU trajectory, and ongoing cost reductions to lead to an underlying ROIC of over 10% by FY 2023. If Telstra delivers on this then I feel it could prove to be a great investment, so it could be worth keeping an eye on its progress.
Volpara Health Technologies Ltd (ASX: VHT)
Analysts at Morgans have retained their add rating and $1.55 price target on this exciting healthcare technology company's shares after the results from a major study using VolparaDensity provided further evidence of the significance of breast density as a risk factor for a missed cancer. Morgans believes these results have major positive implications for a number of publicly based screening programs. In addition to this, the broker expects the company to announce new contract wins when it releases its next quarterly update in April. Whilst it is a high risk investment, I do think that Volpara is a quality option in the small cap space.
