A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.
Three shares that are in favour with brokers and have been given a buy rating are listed below. Here's why they are bullish on them:
Afterpay Touch Group Ltd (ASX: APT)
According to a note out of Morgans, its analysts have retained their add rating and lifted the price target on this payments company's shares to $25.96 following its business update. The broker was impressed with Afterpay's strong sales, customer, and merchant growth during the second half and noted positive trends with its U.S. NTM. Whilst it is a high-risk investment option, I think it is well worth considering Afterpay Touch with a long-term and patient view.
Amcor Limited (ASX: AMC)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $17.60 price target on this packaging company's shares ahead of the completion of its merger with Bemis next week. According to the note, the broker believes there is a lot to like about the merger and feels Amcor's shares deserve to trade at a premium to its global peers. Especially given how attractive its defensive earnings are. Whilst it isn't a share that I'm a huge fan of, I think Macquarie makes a great point and it could be worth considering.
Worleyparsons Limited (ASX: WOR)
Analysts at Credit Suisse have retained their outperform rating and $18.20 price target on this engineering company's shares following its recent investor briefing. According to the note, the broker believes that the Jacobs ECR acquisition has a lot of promise and could provide Worleyparsons with exposure to the global energy mix. It also notes that management has lifted its cost synergies target to $150 million from $130 million. I agree with Credit Suisse and feel Worleyparsons is worth a closer look at the current level.
