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:
Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of UBS, its analysts have retained their buy rating on this travel agent's shares, albeit with a slightly reduced price target of $55.00. Although the broker acknowledges that Flight Centre's full year results were soft, it notes that they were in line with guidance and was able to find a few positives. Namely, the improving performance of its struggling key Australian Leisure segment. In light of this and its attractive valuation, the broker continues to rate Flight Centre as a buy. I agree with UBS on this one and would be a buyer of its shares.
IDP Education Ltd (ASX: IEL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this language testing and student placement company's shares to $19.20 following its full year results. According to the note, the broker believes the post-results release share price weakness was unwarranted and has created a buying opportunity for investors. It believes IDP Education is well-placed to continue its growth thanks to structural tailwinds and strong organic growth. In addition to this, the company has the opportunity to accelerate its growth through acquisitions. I think Macquarie is spot on and would class its shares as a buy as well.
Nearmap Ltd (ASX: NEA)
Analysts at Citi have retained their buy rating and increased the price target on this aerial imagery technology and location data company's shares to $4.59 following the release of its full year results. According to the note, as with IDP Education, this broker believes that Nearmap's recent share price weakness is a buying opportunity for investors. It feels that the company is well-positioned for strong growth over the medium term due largely to its massive opportunity in the North American market. I think Citi is spot on and feel that Nearmap's shares are great value at the current level.
