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:
Reliance Worldwide Corporation Ltd (ASX: RWC)
According to a note out of Ord Minnett, its analysts have retained their buy rating and lifted their price target on this plumbing parts company’s shares to $6.20. The broker believes trading conditions are favourable in its key markets and has upgraded its earnings estimates to reflect this. It also believes it has the balance sheet strength to undertake acquisitions or capital management. The Reliance share price ended the week at $5.35.
Whispir Ltd (ASX: WSP)
Another note out of Ord Minnett reveals that its analysts have retained their buy rating and lifted their price target on this cloud communications platform provider’s shares to $4.30. According to the note, the broker was pleased with its performance during the fourth quarter and feels that its new customer additions will be supportive of further solid growth in FY 2022. It has also been pleased with its early success in the United States market, which provides it with a significant growth opportunity. The Whispir share price was fetching at $2.83.
Zip Co Ltd (ASX: Z1P)
Analysts at Citi have retained their buy rating and $10.25 price target on this buy now pay later (BNPL) provider’s shares. This follows the release of Zip’s fourth quarter update last week. According to the note, the broker was pleased with Zip’s performance during the quarter. Citi notes that Zip’s transaction volume and revenue came in ahead of its expectations. The broker suspects that the weakness in the Zip share price post-release was driven by the lack of commentary on potential M&A interest. The Zip share price ended the week at $7.09.