Last week saw a large number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.
Here's why brokers think investors ought to buy them next week:
Helloworld Travel Ltd (ASX: HLO)
According to a note out of Ord Minnett, its analysts have retained their buy rating and $6.51 price target on this travel company's shares. Ord Minnett was pleased with its first quarter update and feels it should ease concerns following the collapse of Cox & Kings and Thomas Cook. Overall, the broker sees a lot of value in its shares and remains bullish on its prospects. I agree with Ord Minnett on Helloworld and would be a buyer of its shares next week.
ResMed Inc. (ASX: RMD)
Analysts at Morgans have retained their add rating and lifted the price target on this medical device company's shares to $22.82. According to the note, ResMed outperformed its expectations in the first quarter of FY 2020. Morgans appears particularly pleased with its digital health business and the positive impact it is having on the core business. I agree with Morgans and believe ResMed is one of the best buy and hold options on the local share market.
Treasury Wine Estates Ltd (ASX: TWE)
A note out of UBS reveals that its analysts have retained their buy rating and $20.50 price target on this wine company's shares following the release of industry data. According to the note, its data shows that wine exports increased at the quickest rate of the year during the last quarter. Sales into China were particularly strong over the period. UBS believes this bodes well for Treasury Wine Estates' sales in FY 2020. I think UBS is spot on and agree that it would be a good option for investors when the share market reopens.
