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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of UBS, its analysts have retained their buy rating and NZ$22.00 (A$20.63) price target on this infant formula and fresh milk company’s shares. The broker has been looking at industry data and believes a2 Milk’s market share has held firm. As a result, it suspects there is upside risk to its earnings guidance. In addition to this, it appears confident on the future thanks to price increases and a potential new product launch. I agree with UBS and would be a buyer of a2 Milk’s shares next week.
Afterpay Ltd (ASX: APT)
Analysts at Ord Minnett have retained their buy rating and lifted the price target on this payments company’s shares materially to $64.70. According to the note, the broker believes Afterpay is well-positioned to take advantage of the accelerated shift to online shopping. It suspects there could be almost 10 million active customers using its platform by the end of FY 2020. I think Ord Minnett is on the money with Afterpay and feel it could be a top long term option.
Premier Investments Limited (ASX: PMV)
A note out of the Macquarie equities desk reveals that its analysts have upgraded this retail conglomerate’s shares to an outperform rating with an improved price target of $20.11. According to the note, the broker believes that Premier Investments is well-positioned for growth thanks to its strong brands and growing online sales. I think Macquarie is spot on and Premier Investments could be a great option for investors looking to gain exposure to the retail sector.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia owns shares of A2 Milk and AFTERPAY T FPO. 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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