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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Core Lithium Ltd (ASX: CXO)
According to a note out of Macquarie, its analysts have retained their outperform rating and $1.30 price target on this lithium developer's shares. This follows the release of the company's quarterly update. Macquarie was pleased with what it saw and notes that spodumene production is expected to commence during the second half of FY 2023. It expects this milestone to boost its shares when it happens. The Core Lithium share price ended the week at $1.13.
Megaport Ltd (ASX: MP1)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this network as a service provider's shares with a lowered price target of $8.10. Although Goldman wasn't impressed with operational trends during the first half, the broker remains positive. This is because of Megaport's clear product advantage versus peers and its decade-long runway for growth. The Megaport share price was fetching $5.97 at Friday's close.
Telstra Group Ltd (ASX: TLS)
Another note out of Goldman Sachs reveals that its analysts have upgraded this telco giant's shares to a buy rating with a $4.60 price target. The broker sees Telstra as an attractive option for investors right now due to the defensive nature of telecoms in an uncertain environment. In addition, Goldman has highlighted Telstra's low risk earnings (and dividend) growth over the coming years and the favourable outlook for the mobile market. The latter follows price rises from competitors. The Telstra share price ended the week at $4.15 today.
