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:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this biotherapeutics giant's shares to $354.00. Morgan Stanley has become even more positive due to its belief that CSL's plasma margins could recover even more than expected. This is thanks to favourable tailwinds and its new plasma collection technology. The CSL share price ended the week at $299.02.
Santos Ltd (ASX: STO)
A note out of Morgans reveals that its analysts have retained their add rating with a trimmed price target of $8.75. This follows the release of a quarterly update which revealed a bumper cash flow performance. Morgans believes this leaves Santos positioned to flex its cash dividends and buybacks. In addition, the broker highlights that Santos' shares are trading at an attractive discount and offer strong potential returns. The Santos share price was fetching $7.35 at Friday's close.
Rio Tinto Ltd (ASX: RIO)
Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this mining giant's shares to $134.40. Goldman was pleased with Rio Tinto's quarterly update and particularly its record iron ore production. In addition, the broker was pleased with the company's guidance for an 8% increase in FY 2023. The Rio Tinto share price was trading at $127.20 at Friday's close.
