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:
IDP Education Ltd (ASX: IEL)
According to a note out of UBS, its analysts have retained their buy rating and $35.90 price target on this student placements and language testing company’s shares. This follows news that its CEO, Andrew Barkla, is stepping down from the role in the coming months. While UBS acknowledges that the news is a negative, it remains very positive on the company’s prospects and sees it as one of the best growth shares on the Australian share market. The IDP share price ended the week at $23.17.
Webjet Limited (ASX: WEB)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $6.90 price target on this online travel agent’s shares. Ahead of the release of Webjet’s results next week, the broker has reiterated its buy rating. It feels that the company’s outlook is very positive thanks to the growing online channel, its Bedbanks business, and strong balance sheet. The latter gives it opportunities to make bolt-on acquisitions. The Webjet share price was fetching $5.47 at Friday’s close.
Xero Limited (ASX: XRO)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating but trimmed their price target on this cloud accounting platform provider’s shares to $118.00. This follows the release of a full-year result which fell a touch short on earnings and subscribers. Despite this, Goldman remains positive and continues to forecast strong growth over the coming years and sees value in its shares after recent weakness. The Xero share price ended the week at $84.16.
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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. has positions in and has recommended Idp Education Pty Ltd and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Webjet Ltd. 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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