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:
Afterpay Ltd (ASX: APT)
According to a note out of Citi, its analysts have retained their buy rating and $31.10 price target on this payments company's shares. The broker has been looking through website traffic data over the latter part of the year and believes that it points to Afterpay finishing 2019 on a strong note. This is also backed up by positive is app download data. Due to the growing popularity of buy now pay later as a payment method, I think Afterpay would be a great long-term investment.
CSL Limited (ASX: CSL)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $305.00 price target on this biotherapeutics company's shares. According to the note, Credit Suisse has been looking through industry data and appears confident that immunoglobulins demand remains very strong. The broker feels CSL is best positioned to benefit from the high prices and tight market conditions. I agree with Credit Suisse and feel CSL would also be a great long term investment option.
Macquarie Group Ltd (ASX: MQG)
Analysts at Morgan Stanley have retained their overweight rating and $143.00 price target on this investment bank's shares. According to the note, the broker believes that trading conditions have remained strong for Macquarie. Morgan Stanley notes that this means there is upside risk to its performance fees in FY 2020. As a result, it feels that recent share price weakness is a buying opportunity for investors. I agree with Morgan Stanley and think Macquarie's shares are trading at a very attractive level right now.
