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 but trimmed their price target on this lottery ticket seller's shares to $18.30. This follows Jumbo's investor day, which the broker came away from feeling very positive on its growth outlook. Morgans highlights that the company has significant growth opportunities in the US and through the expansion of its SaaS business in the profitable charity sector. The Jumbo share price ended the week at $14.49.
National Australia Bank Ltd (ASX: NAB)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $34.00 price target on this banking giant's shares. Macquarie doesn't appear concerned by the Reserve Bank's rate hikes and sees the recent sector selloff as a buying opportunity. The broker also highlights that the banks could benefit from "lazy" term deposit customers that don't switch to better offers. It feels these could provide a margin boost over the next 12 months. The NAB share price was fetching $28.06 at Friday's close.
Xero Limited (ASX: XRO)
Analysts at Goldman Sachs have retained their buy rating and $118.00 price target on this cloud accounting platform provider's shares. According to the note, the broker remains confident that Xero will be able to execute on its subscription price increases while preserving its existing subscriber base. It notes that the company has a strong track record in putting through increases while driving churn lower. The Xero share price ended the week at $82.93.
