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:
Pilbara Minerals Ltd (ASX: PLS)
According to a note out of Ord Minnett, its analysts have retained their buy rating and $4.25 price target on this lithium miner’s shares. This follows news that the company has received and accepted the equivalent of a US$7,000 per tonne offer for its lithium ahead of its BMX auction. The broker believes that this is a positive indicator for lithium prices and expects them to remain elevated in the medium term. Overall, the broker feels this makes Pilbara Minerals’ shares cheap at the current level. The Pilbara Minerals share price was fetching $2.23 on Friday.
A note out of Citi reveals that its analysts have retained their buy rating and $153.50 price target on this property listings company’s shares. This follows news that the New South Wales government is making changes to stamp duty rules. Citi sees the changes as a positive for the property market and suspects that other states could follow suit in the future. The REA share price was trading at $114.07 at the end of the week.
Woodside Energy Group Ltd (ASX: WDS)
Analysts at Morgan Stanley have retained their overweight rating and $40.00 price target on this energy producer’s shares. While the broker acknowledges that there are risks of a recession, it also reminds investors that there’s no guarantee that we will enter one. Furthermore, the broker believes that structural tailwinds and its attractive valuation would offset any weakness in oil prices caused by one. The Woodside share price ended the week at $30.61.
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