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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Evolution Mining Ltd (ASX: EVN)
According to a note out of Credit Suisse, its analysts have upgraded this gold miner's shares to an outperform rating with an improved price target of $6.55. The broker made the move after lifting its gold price forecasts for 2021 and 2022. Credit Suisse is expecting the price of the precious metal to stay higher for longer. It expects it to command a price of US$2,500 an ounce next year and then US$2,200 an ounce in 2022. This will make Evolution highly profitable given its low cost operations. I think Credit Suisse makes some great points. If the gold price does climb to these levels then Evolution would be a standout pick.
JB Hi-Fi Limited (ASX: JBH)
A note out of the Macquarie equities desk reveals that its analysts have upgraded this retailer's shares to an outperform rating and increased the price target on them to $53.70. The broker notes that consumer spending has been strong in the current quarter. This is likely to mean JB Hi-Fi has been performing very positively so far in FY 2021. Furthermore, it expects this to continue over the remainder of the calendar year and be supported by new phone releases from Apple. While it isn't my favourite retail share, I think it could be a good option for investors.
Vocus Group Ltd (ASX: VOC)
Analysts at Goldman Sachs have put this telco on their conviction buy list with an improved price target of $4.70. It likes Vocus as it is the only telco forecasting growth in FY 2021. In addition to this, it sees opportunities for the company to crystallise value by offloading non-core assets such as Vocus Energy. I think Goldman makes some good points and Vocus could be worth considering.
