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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Macquarie, its analysts have retained their outperform rating and $44.00 price target on this gaming technology company's shares. Macquarie has been speaking to industry stakeholders and has been pleased with what it heard about Aristocrat. In addition, the broker sees a huge growth opportunity for the company in the iGaming market, which it estimates will be worth US$20 billion a year by 2030. The Aristocrat share price was trading at $36.31 at Friday's close.
Australia and New Zealand Banking Group Ltd (ASX: ANZ)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating but trimmed their price target on this banking giant's shares slightly to $29.00. This follows the release of the bank's full year results for FY 2022. The broker has lifted its earnings estimates to reflect stronger margins. However, it notes that ANZ's higher costs guidance are undoing some of this benefit. The ANZ share price was fetching $25.21 at the end of the week.
Iluka Resources Limited (ASX: ILU)
Analysts at Goldman Sachs have retained their conviction buy rating on this mineral sands and rare earths miner's shares with a trimmed price target of $12.50. This follows the release of the company's quarterly update last week. Goldman was pleased with the update and the higher zircon and rutile prices it is receiving. Outside this, the broker believes Iluka's shares are cheap at 0.6x net asset value, especially given its compelling mineral sands and rare earth growth potential. The Iluka share price ended the week at $8.45.
