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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Citi, its analysts have retained their buy rating and $24.75 price target on this banking giant’s shares. While the broker believes that the recent spike in coronavirus cases could mean further loan deferments, it isn’t enough to shift its positive view on the investment opportunity with ANZ’s shares. It continues to see value in its shares at the current level. I agree with Citi on ANZ and would be a buyer of them.
Coca-Cola Amatil Ltd (ASX: CCL)
Another note out of Citi reveals that its analysts have retained their buy rating and $9.85 price target on this beverage company’s shares. This follows the release of a trading update by Coca-Cola Amatil last week. It appears pleased with the volume recovery in the ANZ market and suspects volumes could surprise to the upside in the near term. And while it notes that its Indonesian business continues to struggle and has taken an impairment charge, it wasn’t overly surprised by this. While I’m not a huge fan of the company, I do think it could be worth a closer look.
Tabcorp Holdings Limited (ASX: TAH)
Analysts at UBS have retained their buy rating and lifted the price target on this gambling company’s shares to $5.00. According to the note, the broker’s research has shown a material increase in digital betting during the pandemic. Its analysts believe that Tabcorp has won a bit of market share thanks to its promotions. It feels this will offset some of the weakness it is experiencing in other parts of the business. Once again, it’s not a share that I’m naturally drawn to, but it could be worth considering.
5 stocks under $5
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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