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:
Bank of Queensland Limited (ASX: BOQ)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this regional bank’s shares to $10.50. This follows the release of Bank of Queensland’s half year results last week. The broker was pleased with the result and has upgraded its earnings estimates to reflect a number of positive trends. In addition, thanks to the improving economy, it suspects that the bank could reverse some of its provisioning in the second half and FY 2022. The Bank of Queensland share price ended the week at $8.91.
Flight Centre Travel Group Ltd (ASX: FLT)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $20.00 price target on this airline operator’s shares. This follows an update last week by Qantas which revealed that it has upgraded its capacity plans. According to the note, the broker appears confident that the worst is now behind the travel market. It also believes that structural business improvements made during COVID-19 will lead to higher profitability. The Qantas share price was fetching $5.18 on Friday.
Transurban Group (ASX: TCL)
Analysts at Ord Minnett have retained their buy rating and $16.00 price target on this toll road operator’s shares. This follows the release of its traffic update for the March quarter. According to the note, the broker was pleased with its update and the improving trends it is reporting. Looking ahead, the broker believes the medium term outlook is positive and expects this to support increasing distributions. Ord Minnett has forecast distributions of 37 cents per share and 58 cents per share over the next two years. The Transurban share price finished the week at $13.88.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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