Last week saw a number of broker notes hitting the wires once again. Three buy ratings that investors might want to be aware of are summarised below.
Here's why brokers think investors ought to buy them next week:
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Core Lithium Ltd (ASX: CXO)
According to a note out of Macquarie, its analysts have retained their outperform rating and $1.70 price target on this lithium miner's shares. Macquarie notes that Core Lithium has just completed a $100 million institutional placement and the maiden sale of its spodumene direct shipping ore through a digital exchange platform. In respect to the latter, the broker was impressed with the strong price Core received. As for the former, it believes Core Lithium is now well-placed to accelerate its growth. The Core Lithium share price was trading notably lower than this price target at $1.15 at the end of the week.
Life360 Inc (ASX: 360)
A note out of Goldman Sachs reveals that its analysts have initiated coverage on this location technology company's shares with a buy rating and $7.50 price target. Goldman sees a big growth runway ahead for Life360 thanks to its estimated US$12 billion global total addressable market. In addition, its analysts believe that Life360 is reaching a volume and pricing inflection point, with potential structural profitability tailwinds not far away. The Life360 share price was fetching $5.20 at Friday's close.
PolyNovo Ltd (ASX: PNV)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and $1.90 price target on this medical device company's shares. Macquarie was impressed with PolyNovo's first quarter sales update and highlights its record performance during September. It appears confident this strong form can continue, particularly given the recent FDA approval of its new MTX product. Macquarie expects this to bolster its offering and diversify its sales. The PolyNovo share price ended the week at $1.75.
