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:
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IDP Education Ltd (ASX: IEL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted the price target on this student placement and language testing company's shares by almost a third to $22.50. Goldman believes IDP Education is well positioned for the eventual restart of the international student market. And looking further ahead, its analysts note that it is exposed to long dated structural tailwinds in international education and well placed to increase its market share in the fragmented student placement market. I agree with Goldman Sachs and would be a buyer of IDP Education's shares.
Nearmap Ltd (ASX: NEA)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this aerial imagery technology and location data company's shares to $3.20. Its analysts appear pleased with its capital raising and expect it to support its future growth in the key United States market. In light of this, it has upgraded its annualised contract value estimates for the coming years. I think Macquarie is spot on and Nearmap could be a great long term option for investors.
Westpac Banking Corp (ASX: WBC)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $19.83 price target on this banking giant's shares. The broker notes that APRA has released additional data on loan repayment deferrals. This data reflects very positively on Westpac and appears to show that just 7% of its loan book is on deferral at present. In addition, of the big four banks, Westpac has seen the biggest net improvement in mortgage deferrals. I would have to agree with Goldman Sachs on this one too. I think Westpac is trading at a very attractive level at present.
