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:
Cochlear Limited (ASX: COH)
According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and $241.00 price target on this hearing solutions company's shares ahead of its half year results. While trading conditions are expected to have been tough, the broker appears optimistic that the second half will be stronger and Cochlear will grow ahead of the industry by winning market share from competitors. The Cochlear share price ended the week at $206.41.
Megaport Ltd (ASX: MP1)
A note out of UBS reveals that its analysts have retained their buy rating and lifted their price target on this elastic interconnection services provider's shares to $16.90. This follows the release of the company's half year results last week. UBS was pleased with the update and believes the company's outlook is improving following some COVID disruptions. The Megaport share price was fetching $14.03 at Friday's close.
Telstra Corporation Ltd (ASX: TLS)
Another note out of UBS reveals that its analysts have retained their buy rating and $3.70 price target on this telco giant's shares following the release of its half year results. According to the note, Telstra delivered operating earnings in line with the broker's expectations. Looking ahead, UBS expects Telstra to achieve the mid to upper end of its FY 2021 operating earnings guidance. In addition to this, the broker was pleased with the performance of InfraCo and suspects Telstra could command an attractive fee for its mobile towers when it attempts to monetise them. The Telstra share price ended the week at $3.25.
