Last week saw a large number of broker notes hitting the wires once again. Three buy ratings that caught my eye are summarised below.
Here’s why brokers think investors ought to buy them next week:
Adairs Ltd (ASX: ADH)
According to a note out of Goldman Sachs, its analysts have upgraded this homewares retailer’s shares to a buy rating with an improved price target of $2.40. The broker likes Adairs due to its strong online business, solid product offering, and improving supply chain. It also believes its shares are very cheap at 13x forward earnings. I think Goldman Sachs makes some great points and Adairs could be a good option for investors.
Nearmap Ltd (ASX: NEA)
Analysts at Citi have retained their buy rating and lifted the price target on this aerial imagery technology and location data company’s shares to $2.60. According to the note, the broker was pleased with its market update and was impressed with the resilience of the business. And while it suspects that FY 2021 will be tough, it remains positive on its longer term outlook. I agree with Citi and think Nearmap would be a great buy and hold option.
Telstra Corporation Ltd (ASX: TLS)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating but trimmed the price target on this telco giant’s shares to $4.10. Although the broker expects the pandemic to negatively impacts its earnings, the damage isn’t enough for it to change its bullish stance. It feels its shares are cheap at the current level and continues to forecast a 16 cents per share dividend over the near term. I think Credit Suisse is spot on and would be a buyer of Telstra’s shares.
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More reading
- The best ASX blue chip shares to buy in June
- Here’s why it’s vital your ASX shares have a moat
- The TPG share price is up 26.68% in 2020. Too late to invest?
- The Nearmap share price is up 123% in 2 months: Why I think it can go higher
- Brokers name 3 ASX 200 shares to buy right now
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. and Telstra Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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