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:
Domino’s Pizza Enterprises Ltd (ASX: DMP)
According to a note out of Morgan Stanley, its analysts have resumed coverage on this pizza chain operator with an overweight rating and $100.00 price target. The broker believes investors should look beyond short term headwinds such as lockdown boosts a year earlier and food inflation and focus on its long term growth potential. This is being underpinned by the company’s plan to double its store footprint globally. The Domino’s share price ended the week at $75.31.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that its analysts have retained their buy rating but cut their price target on this location technology company’s shares to $8.25. Bell Potter highlights that Life360 performed ahead of its expectations during the first quarter, with paying circles, core annual monthly revenue, global monthly active users, and core revenue all growing quicker than its estimates. And while the broker was disappointed with the company’s cash flow, it believes this will materially improve in Q2 and Q3 and then be positive in Q4. The Life360 share price was fetching $4.03 at the end of the week.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Citi have retained their buy rating and $3.60 price target on this lithium miner’s shares. This follows the release of the company’s third quarter update, which revealed another jump in lithium prices and expectations for further increases. And while the broker isn’t convinced Pilbara Minerals will achieve its production growth target this year, it isn’t enough to dampen its bullish view. The Pilbara Minerals share price ended the week at $2.85.
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Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360, Inc. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. 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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