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:
Lendlease Group (ASX: LLC)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and $13.31 on this global construction, property, and infrastructure company's shares. Credit Suisse was pleased with Lendlease's new strategy and expects it to result in predictable earnings. It feels this could support a re-rating in the future. Outside this, the broker sees Lendlease as a company that should benefit from the global urbanisation theme. I agree with the broker on this one and feel now would be a good time to invest.
National Australia Bank Ltd (ASX: NAB)
Analysts at UBS have retained their buy rating and $20.50 price target on this banking giant's shares. This follows the announcement of the sale of its wealth business. According to the note, the broker believes this is a good move and expects it to boost its capital position to a level that gives it more than enough flexibility to deal with any increase in provisioning due to the pandemic. I think UBS is spot on and NAB would be a top option for investors.
NEXTDC Ltd (ASX: NXT)
A note out of Morgans reveals that its analysts have upgraded this data centre operator's shares to an add rating with a $13.89 price target. It was pleased with NEXTDC's full year results and believes they demonstrate the quality of its business model and earnings. Looking ahead, Morgans is forecasting strong earnings growth in the coming years thanks to the increasing demand for its services due to the cloud computing boom. I agree with Morgans and feel NEXTDC would be a great long term investment option.
