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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 summarized below.
Here’s why brokers think investors ought to buy them next week:
According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this fund manager’s shares with a slightly trimmed price target of $1.92. Goldman was pleased with GQG’s results and remains positive on its outlook. This is due to its strong operating momentum and low fees. It also highlights the company’s co-founders have the majority of their wealth invested in GQG and its investment strategies. The GQG share price ended the week at $1.66.
Pilbara Minerals Ltd (ASX:PLS)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this lithium miner’s shares materially to $3.60. The broker made the move after increasing its earnings estimates for FY 2023 and FY 2024 significantly on the back of higher spodumene price assumptions. It is expecting this to underpin high levels of free cash flow. The Pilbara Minerals share price was fetching $3.12 at Friday’s close.
Analysts at Morgans have retained their add rating on this property listings company’s shares with a slightly trimmed price target of $143.00. This follows the release of a full year result that beat on the top line and narrowly missed on the bottom line. REA was particularly pleased with the performance of REA’s local operations, which delivered very strong growth over the prior corresponding period. Looking ahead, the broker believes management has levers to potentially pull to boost its growth. The REA share price ended the week at $133.85.