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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and lifted the price target on this gaming technology company's shares to $34.60. The broker notes that its U.S. land-based business is recovering quicker than expected with the vast majority of its machines now in operation. In addition to this, it believes that new machine sales will start to pick in the near term and has upgraded its estimates accordingly. I agree with Citi on Aristocrat Leisure and would be a buyer of its shares.
Pushpay Holdings Ltd (ASX: PPH)
Analysts at Credit Suisse have retained their outperform rating and lifted their price target on this donation platform provider's shares to NZ$9.30 (A$8.63). According to the note, Credit Suisse believes Pushpay is providing churches with an indispensable service and expects it to benefit greatly from an acceleration in digital donations because of the pandemic. In light of this, the broker suspects the company will outperform its guidance once again in FY 2021. I agree with Credit Suisse and believe Pushpay would be a fantastic long term option for investors.
Westpac Banking Corp (ASX: WBC)
A note out of Goldman Sachs reveals that its analysts have reiterated their buy rating but trimmed their price target on this banking giant's shares slightly to $19.80. Although Westpac's $1.3 billion settlement was higher than the broker expected, it believes the lifting of this dark cloud could be a big positive for its shares. Goldman notes that Westpac's shares are trading at a significant discount to its peers and feels this could narrow now the bad news is out of the way. I would have to agree with Goldman Sachs on this one as well. I think Westpac could be a good option if you don't already have exposure to the banks.
