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 Macquarie, its analysts have retained their outperform rating and increased the price target on this hearing solutions company’s shares to $264.00. The broker made the move after a survey of US audiologists revealed that patient numbers were increasing on pre-COVID levels. In addition to this, audiologists spoke positively about its products, ranking them highest for both adult and paediatric patients. The Cochlear share price ended the week at $248.78.
Costa Group Holdings Ltd (ASX: CGC)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $4.15 price target on this horticulture company’s shares. According to the note, the broker is pleased with Costa’s plan to acquire 2PH Farms. It believes it is an excellent business, has significant strategic value, and comes at a fair price. The Costa price last traded at $3.40.
Westpac Banking Corp (ASX: WBC)
Analysts at Citi have retained their buy rating and $29.50 price target on this banking giant’s shares. This follows news that Westpac will not be offloading its New Zealand banking business. It feels this reflects the complexities of divesting from a liquidity and capital perspective. Based on the alternatives, Citi appears to believe this was the correct decision and suggests that this is the end of the matter now. Outside this, Citi notes that Westpac is aiming to make significant cost reductions and expects this to drive improvements in its return on equity. The Westpac share price ended the week at $25.89.