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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 summarised below.
Here’s why brokers think investors ought to buy them next week:
Temple & Webster Group Ltd (ASX: TPW)
According to a note out of Goldman Sachs, its analysts have retained their buy rating but trimmed their price target on this online furniture retailer’s shares to $7.50. This follows the release of a trading update which revealed that its performance has improved since early in the financial year. In light of this, the broker remains positive on the future and expects annual double-digit operating earnings growth over the next decade. The Temple & Webster share price was trading at $4.99 on Friday.
Whitehaven Coal Ltd (ASX: WHC)
A note out of Bell Potter reveals that its analysts have upgraded this coal miner’s shares to a buy rating with an $11.00 price target. The broker has upgraded Whitehaven Coal’s shares to reflect its very strong near term earnings and dividend outlook thanks to high coal prices. It highlights that this is being underpinned by upside risk to pricing across the energy complex in the northern hemisphere winter, exacerbated by sanctions on Russian supply. The Whitehaven Coal share price was fetching $9.74 at the end of the week.
Analysts at Bell Potter have reiterated their buy rating and $97.90 price target on this cloud accounting platform provider’s shares. This follows the release of the first quarter update from rival Intuit. That update revealed softness in the Australian market for the QuickBooks product. In addition, it notes that Intuit commented that it believes that digitisation rather than macro remains the key driver for cloud accounting. This bodes well for Xero in the current economic environment. The Xero share price ended the week at $75.15.
