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 Morgan Stanley, its analysts have retained their overweight rating and $101.00 price target on this payments company's shares following its guidance upgrade. The broker was pleased with this development. In addition to this, the broker believes the company was operating with conservative credit settings during the second half and would have delivered an even stronger result if the economic environment were more certain. I agree with Morgan Stanley and feel Afterpay would be a great buy and hold option. Though, I would suggest investors restrict an investment to just a small part of a balanced portfolio.
CSL Limited (ASX: CSL)
Analysts at UBS have retained their buy rating and lifted the price target on this biotherapeutics company's shares to $346.00. This follows an FY 2020 result which was in line with expectations and positive guidance for the year ahead. Overall, it appears to see a decent risk/reward on offer with its shares at the current level. I would have to agree with UBS on this one and believe CSL is a great option for investors.
Nearmap Ltd (ASX: NEA)
A note out of Citi reveals that its analysts have retained their buy rating and lifted the price target on this aerial imagery technology and location data company's shares to $3.00. According to the note, the broker has lifted its estimates in FY 2021 to account for stronger annualised contract value. The broker also notes that Nearmap is aiming to achieve positive cash flow in the new financial year. I think Citi is spot on and Nearmap could be a great option for investors.
