Last week saw a 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:
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Goodman Group (ASX: GMG)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this global property company's shares to $24.84. This follows the release of a full year result that was a touch ahead of expectations. Looking ahead, it notes that Goodman expects earnings per share growth of 10% in FY 2022. However, Macquarie suspects management is being conservative and expects stronger growth. The Goodman share price ended the week at $22.75.
REA Group Limited (ASX: REA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $185.00 price target on this property listings company's shares. Morgan Stanley was pleased with its performance in FY 2021, delivering a result ahead of its expectations. And while it fears that lockdowns could weigh on its near term performance, the broker remains positive on the future. It is expecting listing volumes to rebound quickly once trading conditions return to normal. The REA Group share price was fetching $149.74 at the end of the week.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Ord Minnett have retained their buy rating and lifted their price target on this telco giant's shares to $4.40. According to the note, Telstra's result was in line with its expectations and it was pleased with its return to growth during the second half. It notes that management is forecasting operating earnings growth in FY 2022 and FY 2023. The broker believes it will achieve the latter this if management can deliver cost reductions and higher average revenue per user in its Fixed business. The Telstra share price ended the week at $3.96.
