Once again brokers across Australia have been busy interpreting new data and adjusting their discounted cash flow statements accordingly.
Three shares which have continued to find favour with brokers are listed below. Here's why these brokers think you should buy them today:
Suncorp Group Ltd (ASX: SUN)
According to a research note out of Credit Suisse this morning, its analysts have retained their outperform rating and $14.20 price target following Cyclone Debbie. The note reveals that Credit Suisse believes Suncorp's insurance business is adequately protected from Debbie and any other disasters that may eventuate in FY 2017. I'd agree with Credit Suisse that Suncorp is a buy at the moment. The current share price and its generous dividend make it the best option in the insurance industry in my opinion.
Vita Group Limited (ASX: VTG)
Following the leaked internal Telstra Corporation Ltd (ASX: TLS) document yesterday which revealed that the telco giant is exploring the possibility of taking back some of its retail stores from Vita Group, Morgans has reiterated its add rating on the retailer's shares. Its analysts have reduced its price target to $3.49 due to the perceived negative sentiment surrounding its shares. Whilst Vita Group does look remarkably cheap, its falling margins and the possibility of losing a tenth of its store network to Telstra is a huge concern.
Worleyparsons Limited (ASX: WOR)
A research note out of Morgan Stanley reveals that its analysts have reiterated their overweight rating on its shares and raised their price target to $12.52. According to the release Morgan Stanley believes the company is targeting a return to double-digit earnings before interest and tax growth, far beyond the current market expectations. Whilst I'm not a huge fan of Worleyparsons, if it is capable of growing earnings at that level again, I do believe it could be a decent option for investors looking for exposure to the resources sector.
