Last week saw a large 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:
Damstra Holdings Ltd (ASX: DTC)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $1.60 price target on this workforce management company’s shares. The broker notes that Damstra has acquired a smaller industry player by the name of Scenario Advantage Workforce for $4 million. This will add 29,000 users from 21 customers across 54 operating locations. It currently generates unaudited annual recurring revenue of approximately $1.3 million. Morgan Stanley appears to see this as a good addition and retains its bullish view. I think Damstra could be worth a closer look for investors wanting exposure to the small side of the market.
Lynas Corporation Ltd (ASX: LYC)
A note out of Ord Minnett reveals that its analysts have retained their buy rating and $4.90 price target on this rare earths producer’s shares. According to the note, the broker believes that the U.S. Army’s plan to co-fund the construction of a heavy rare earths plant is a big opportunity for Lynas. It notes that the company has previously entered into a joint venture with US-based Blue Line Corp to build a heavy rare earths separation facility. Ord Minnett appears to believe this joint venture would have a good chance of winning the U.S. Army’s tender. Things certainly are looking up for Lynas, which could make it a decent option in the resources sector right now.
Premier Investments Limited (ASX: PMV)
Analysts at UBS have retained their buy rating and $20.95 price target on this retail group’s shares. According to the note, the broker has been looking over the Smiggle brand and is very positive on its global roll-out. So much so, it suspects there is a chance that Premier Investments could outperform its medium term forecasts. It also notes that the rest of the business is performing well and should support the Smiggle brand. I agree with UBS and feel Premier Investments is one of the best options in the retail sector.
The post Top brokers name 3 ASX shares to buy next week appeared first on Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019