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:
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IDP Education Ltd (ASX: IEL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this language testing and student placement company's shares. The broker was pleased with its first half performance and is expecting a stronger than usual second half. This is due to the emerging recovery in Australian student placements, continued strength in multi-destination placements, and greater than initially forecast synergies in the Indian IELTS operations. Outside this, Goldman notes that IDP is a structural grower with risks diminishing. The IDP share price ended the week at $28.53.
Nanosonics Ltd (ASX: NAN)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this infection prevention company's shares to $5.97. This follows news that its long-standing sales agreement with GE Healthcare has come to an abrupt end. Morgans has downgraded its forecasts but remains positive on the long term. The Nanosonics share price was fetching $4.68 at the end of the week.
National Australia Bank Ltd (ASX: NAB)
Analysts at Macquarie have retained their outperform rating and increased their price target on this banking giant's shares to $32.50. This follows the release of a first quarter update which was better than the broker was expecting thanks to growth well-ahead of system. This has led to the broker upgrading its estimates and valuation accordingly. The NAB share price ended the week at $29.84.
