Last week saw a 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:
Life360 Inc (ASX: 360)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this family focused app maker’s shares to $10.00. This follows the release of the company’s second quarter update. Credit Suisse has been impressed with its performance during the pandemic both in respect to customer growth and costs. It suspects the company could outperform its guidance in FY 2021 if current trading conditions persist. The Life360 share price was fetching $7.97 at Friday’s close.
Qantas Airways Limited (ASX: QAN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $7.00 price target on this airline operator’s shares. While the broker notes that Qantas’ recovery is uncertain given recent lockdowns, it remains confident that there is significant upside when trading conditions return to normal. Morgan Stanley expects domestic capacity to average 80% of normal levels and international capacity to be 10% in FY 2022. The Qantas share price ended the week at $4.59.
Temple & Webster Group Ltd (ASX: TPW)
Another note out of Credit Suisse reveals that its analysts have retained their outperform rating and lifted their price target on this online furniture and homewares retailer’s shares to $14.62. This follows the release of a strong full year result last week. Credit Suisse believes the company is well-placed for growth thanks to its strong market position and increasing online penetration. This is expected to be supported by its increased investment in marketing to grow brand awareness. The Temple & Webster share price was trading at $11.95 at Friday’s close.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. and Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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