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:
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Altium Limited (ASX: ALU)
According to a note out of Citi, its analysts have upgraded this electronic design software provider's shares to a buy rating but trimmed their price target to $35.40. Citi believes the weakness in the Altium share price since its results release is a buying opportunity. The broker remains positive on Altium's long term outlook and was pleased with its solid guidance for FY 2022. Particularly given how this comes at a time when the company is transitioning away from perpetual licenses. The Altium share price ended the week at $32.10.
Harvey Norman Holdings Limited (ASX: HVN)
Another note out of Citi reveals that its analysts have retained their buy rating and $6.00 price target on this retail giant's shares. This follows the release of a full year result that was ahead of the broker's expectations. And while Citi acknowledges that FY 2022 has started softly, it remains positive due to strong underlying demand for furniture and home goods from consumers. This is being underpinned by the favourable housing cycle. The Harvey Norman share price was fetching $5.22 at Friday's close.
PointsBet Holdings Ltd (ASX: PBH)
Analysts at Goldman Sachs have retained their buy rating but trimmed their price target on this sports betting company's shares to $14.75. This follows the release of a full year result that was largely in line with the broker's expectations. Goldman remains positive on the future, noting that PointsBet has exposure to the burgeoning US sports betting and iGaming market. It believes the company is well-placed to achieve a 10% market share in states it US operates in. The PointsBet share price ended the week at $10.66.
