Thu. Aug 18th, 2022

finger press the red button on the keyboard marked Buy

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Last week, a number of broker notes once again hit the wires. Three purchase ratings that caught my eye are summarized below.

Here’s why brokers think investors should buy them next week:

Premier Investments Limited (ASX: PMV)

According to a note out of Macquarie, its analysts have preserved theirs surpass rating and raised their price target on this retail conglomerate’s shares to $ 33.00. The broker was satisfied with Premier Investments’ results in the financial year 2021. And although it expects earnings and margins to normalize in the financial year 2022, it still sees value in its shares. It also notes that the company’s decision to stock up looks good due to headwinds in the supply chain that could affect its competitors. The Premier Investments stock ended the week at $ 30.28.

A note out of Morgan Stanley reveals that its analysts have begun covering the shares of this e-commerce company with a overweight rating and $ 6.50 price target. Morgan Stanley likes Redbubble because of its position as the largest print-on-demand marketplace globally with over 700,000 independent artists on its platform. The broker believes that the company has a large addressable market and sees opportunities to make money on its growing user base. The Redbubble stock traded lower than this price target of $ 4.52 at Friday’s close.

Qantas Airways Limited (ASX: BLOD)

Analysts at Word Minnett have kept theirs buy rating and raised their price target on this carrier’s shares to $ 6.50. According to the memo, the broker believes that there is a significant pent-up demand in the travel market. As a result, Word Minnett expects Qantas to benefit when the border reopens. Especially with Virgin Australia cutting back and apparently admitting market shares to Qantas. Qantas shares ended the week at $ 5.59.

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