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:
Accent Group Ltd (ASX: AX1)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted the price target on this footwear-focused retailer’s shares to $1.90. The broker was pleasantly surprised with Accent’s trading update and notes that its sales are well ahead of its expectations. This strong performance, which has been driven by impressive online sales growth, has led to Morgan Stanley lifting its estimates through to FY 2022. I agree with the broker and believe it could be a top option in the retail sector.
Bapcor Ltd (ASX: BAP)
Analysts at Credit Suisse have retained their outperform rating and lifted the price target on this autoparts company’s shares to $7.20. This follows the release of a trading update last week. According to the note, the broker believes that Bapcor’s shares are deserving of a re-rating thanks to its strong performance and positive industry outlook. I think that Credit Suisse makes some great points and Bapcor could be worth considering.
CSL Limited (ASX: CSL)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $336.00 price target on this biotherapeutics company’s shares. This follows the announcement of the acquisition of AMT-061 from uniQure for US$450 million. AMT-061 is a gene therapy undergoing Phase 3 clinical trials for the treatment of patients with haemophilia B. Goldman notes that this therapy has the potential to transform the treatment paradigm. It expects this to complement and expand its existing franchise (Idelvion) and potentially extend its sustainability. I agree and would be a buyer of CSL’s shares.
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More reading
- How I would construct a $50,000 growth portfolio
- 3 top ASX shares to buy for growth investors in July
- Brokers name 3 ASX 200 shares to buy today
- Here’s everything you need to know about CSL’s latest acquisition
- These are the 4 cheapest ETFs on the ASX
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 CSL Ltd. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Accent Group. 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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