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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Mineral Resources Ltd (ASX: MIN)
According to a note out of Morgans, its analysts have retained their add rating on this mining and mining services company's shares with a trimmed price target of $103.00. Although the broker was a touch underwhelmed with Mineral Resources' quarterly performance, the result does not impact its very positive longer-term investment view on the company. As a result, it continues to see plenty of value in its shares at the current level. The Mineral Resources share price ended the week at $73.68.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Citi reveals that its analysts have retained their buy rating and $4.60 price target on this lithium miner's shares. This follows the release of a quarterly update that was short of expectations, particularly in regard to lithium pricing. However, Citi is overlooking this on the belief that we are probably at the end of the downstream destocking cycle. The Pilbara Minerals share price was fetching $4.24 at Friday's close.
Xero Limited (ASX: XRO)
Analysts at UBS have upgraded this cloud accounting company's shares to a buy rating with an improved price target of $109.00. According to the note, UBS believes that Xero is well-placed to deliver stronger than expected free cash flow in the coming years. This is due to its belief that the company's strong growth will continue despite its recent cost reductions initiative. The Xero share price was trading at $93.34 on Friday afternoon.
