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:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this lottery ticket seller's shares to $20.75. This follows the announcement of the acquisition of UK-based external lottery manager, StarVale. Morgans is a fan of the deal and notes that it is consistent with management's strategy of expanding its business in the UK and North America. All in all, the broker remains attracted to the company's long-term growth potential, structural tailwinds, and balance sheet position. The Jumbo share price ended the week at $17.47.
Nearmap Ltd (ASX: NEA)
A note out of Citi reveals that its analysts have upgraded this aerial imagery technology and location data company's shares to a buy rating with a $2.10 price target. Its analysts made the move on valuation grounds following recent share price weakness. In addition, the broker suspects that Nearmap's cash burn could peak this year, which it feels could boost investor sentiment. The Nearmap share price was fetching $1.25 at Friday's close.
REA Group Limited (ASX: REA)
Analysts at Goldman Sachs have retained their buy rating but trimmed their price target on this property listings company's shares to $168.00. According to the note, the broker is expecting a half year result ahead of the market's expectations next month from the realestate.com.au operator. Goldman estimates that REA grew its revenue and EBITDA by 40% and 30%, respectively during the second quarter. This is up from 35% and 27% growth during the first quarter. The REA share price ended the week at $142.00.
