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:
Bapcor Ltd (ASX: BAP)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this auto parts retailer's shares to $9.35. The broker notes that Bapcor has made an investment Tye Soon in Asia. Citi believes the deal will give the provide the company with opportunities to rollout across the region. For example, the broker estimates that over the long term Bapcor could have a network of over 450 stores across the South Korea and Malaysia markets, where Tye Soon has a decent presence. The Bapcor share price ended the week at $7.69.
PolyNovo Ltd (ASX: PNV)
A note out of Macquarie reveals that its analysts have upgraded this medical device company's shares to an outperform rating with an improved price target of $3.20. According to the note, the broker believes PolyNovo is well-placed to grow its market share. It also notes that the company is exploring additional opportunities in the treatment of chronic wounds and hernia. These are significant markets and could give its long term sales growth a major lift if successful. The PolyNovo share price was fetching $2.85 at Friday's close.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Ord Minnett have retained their buy rating and $4.05 price target on this telco giant's shares following its corporate restructure update. According to the note, the broker sees value in its plan of splitting into four subsidiaries. Ord Minnett also believes that Telstra can continue paying a 16 cents per share fully franked dividend for the foreseeable future. The Telstra share price ended the week at $3.41.
