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:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. While the broker acknowledges that Appen will need a big second half to achieve its guidance, it is encouraged by the recent update from industry peer Telus. It recently reported a 30% increase in third quarter revenue following a rebound in demand. This could bode well for demand for Appen’s services. The Appen share price ended the week at $10.84.
Breville Group Ltd (ASX: BRG)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $36.00 price target on this kitchen appliance company’s shares. This follows the release of a trading update at its annual general meeting. Morgan Stanley was pleased with the update and believes the company is well-placed to achieve consensus estimates in FY 2022. Outside this, its analysts remain positive on Breville’s long term outlook thanks to its reinvestments and global expansion. The Breville share price was fetching $29.94 on Friday.
Liontown Resources Limited (ASX: LTR)
Analysts at Macquarie have retained their outperform rating and lifted their price target on this lithium developer’s shares to $2.00. This follows the release of the definitive feasibility study for its Kathleen Valley project. The broker was pleased with the higher production forecast and the earlier than expected start date. The Liontown Resources share price ended the week at $1.57.
Should you invest $1,000 in Liontown right now?
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- Liontown Resources (ASX:LTR) share price sinks 9% after Kathleen Valley DFS
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 Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen 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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