Last week saw a 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 Bell Potter, its analysts have a buy rating and $140.00 price target on this payments company's shares. The broker believes there is a significant pipeline of catalysts that will support its growth in the future. This includes further integration with key ecommerce and payment infrastructure players, further growth in customers and underlying sales in the US and UK, and its healthy net transaction margin. It expects the latter to continue into FY 2021. In addition to this, it sees positives from its global expansion and comments by regulators in Australia regarding the buy now pay later industry. The Afterpay share price ended the week at $116.00.
Bapcor Ltd (ASX: BAP)
Analysts at Citi have retained their buy rating and $8.85 price target on this automotive parts retailer's shares. According to the note, the broker believes Bapcor will benefit from a number of tailwinds. This includes solid new car sales and positive trends in the used car market. The Bacpcor share price last traded at $7.79.
Sonic Healthcare Limited (ASX: SHL)
A note out of Morgans reveals that its analysts have upgraded this healthcare company to an add rating with an improved price target of $37.32. The broker believes that Sonic Healthcare will benefit from a new normal that will see virus testing become part of everyday life because of the COVID 19 pandemic. This led to the broker upgrading its forecasts for the coming years and its price target accordingly. The Sonic Healthcare share price ended the week at $33.92.
