Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.
Here’s why brokers think investors ought to buy them next week:
HUB24 Ltd (ASX: HUB)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this investment platform provider’s shares to $36.50. The broker was pleased with HUB24’s performance during the first quarter, noting that it delivered fund inflows well ahead of its forecasts. It also suspects that this level of inflows could be sustainable given there doesn’t appear to have been any large one-offs during the period. The HUB24 share price ended the week at $33.06.
Newcrest Mining Ltd (ASX: NCM)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this gold miner’s shares slightly to $30.50. Goldman continues to see a lot of value in the company’s shares. This is due to its growth pipeline, its belief that the company’s earnings will hold up despite production declines, and its attractive valuation compared to peers. The Newcrest share price was fetching $24.67 at Friday’s close.
Redbubble Ltd (ASX: RBL)
Analysts at Morgans have retained their add rating and increased their price target on this ecommerce company’s shares ever so slightly to $4.84. According to the note, Redbubble’s first quarter update fell short of its expectations. However, the broker notes that Redbubble was cycling very strong sales in the prior corresponding period. In light of this, it feels investors should focus more on the long term, which it remains very positive on. Though, it concedes that it would like to see evidence of an ability to improve customer loyalty before becoming even more positive. The Redbubble share price ended the week at $3.98.