A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.
Three shares that are in favour with brokers and have been given a buy rating are listed below. Here's why they are bullish on them:
Charter Hall Group (ASX: CHC)
According to a note out of UBS, its analysts have upgraded this property company's shares to a buy rating from neutral and lifted the price target on them to $12.50. It made the move after upgrading its earnings estimates to reflect an increase in its assets under management and co-investments. In addition to this, it believes that concerns over the Melbourne and Sydney office markets are unwarranted. I think UBS makes some great points and Charter Hall could be a good option for investors.
Nearmap Ltd (ASX: NEA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $4.20 price target on this aerial imagery technology and location data company's shares following its acquisition update. According to the note, the broker believes the near term financial benefits of the Pushpin acquisition are only small. However, it appears pleased that it increases its capability and remains bullish on its future. I agree that Nearmap would be a great long-term investment option.
Redbubble Ltd (ASX: RBL)
Analysts at Morgans have retained their add rating but lowered their price target on this ecommerce company's shares to $2.10 following its market update. That update revealed that a new competitor in the sticker market was impacting its sales and putting pressure on prices. Morgans believes the seller, which is using the Amazon platform, is selling goods at a loss. Which is clearly not sustainable. As a result, it believes the sell-off has been an overreaction and is a buying opportunity for investors. Whilst I think that Morgans makes some very good points, I intend to wait for its performance to improve before considering an investment.
