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 Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this payments company's shares to $170.10. The broker notes that buy now pay later (BNPL) providers have been growing very strongly despite increasing competition. The broker believes this bodes well for Afterpay's future growth, especially given its industry-leading repeat usage. In addition to this, it sees opportunities for Afterpay's growth to accelerate in the future as its builds out its offering. The Afterpay share price ended the week at $151.92.
Westpac Banking Corp (ASX: WBC)
Analysts at Morgans have retained their add rating and lifted their price target on this banking giant's shares to $27.50. According to the note, Westpac delivered a first quarter result well ahead of the broker's expectations. Morgans was particularly pleased with the bank's net interest margin, which has improved since the second half of FY 2020. In light of this strong start to the financial year, the broker has lifted its earnings estimates and price target accordingly. The Westpac share price last traded at $24.09.
Whispir Ltd (ASX: WSP)
A note out of Ord Minnett reveals that its analysts have upgraded this cloud-based communications platform provider's shares to a buy rating with a $4.53 price target. This follows the release of a first half result which was in line with its expectations. Whispir reported a 29.2% increase in its Annualised Recurring Revenue (ARR) to $47.4 million for the half. Ord Minnett believes that Whispir is well-placed to continue its strong growth over the medium term. The Whispir share price ended the week at $4.20.
