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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of the Macquarie equities desk, its analysts have retained their outperform rating and lifted the price target on this gaming technology company’s shares to $31.50. The broker believes that Aristocrat Leisure has strong growth prospects thanks to its digital business, which it feels has reached an inflection point with its growth. In addition to this, Macquarie believes its shares are great value at just 19x estimated forward earnings. I agree with Macquarie on this one and feel it is one of the best value growth shares on the local market.
Lendlease Group (ASX: LLC)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and lifted the price target on this international property and infrastructure company’s shares to $19.22. Goldman increased its price target in response to Lendlease’s announcement of a major agreement with Google in the United States to develop the tech giant’s landholdings in San Jose, Sunnyvale and Mountain View into mixed-use communities. I think Goldman Sachs is spot on with Lendlease and agree that its shares are a buy.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at Morgans have retained their add rating but lifted the price target on this jewellery retailer’s shares materially to $13.15. According to the note, the broker isn’t expecting an overly strong result in August, but it feels investors should look beyond this to its international expansion opportunity. It believes Lovisa’s store roll out has a long way to go, particularly in the enormous United States market. I agree with Morgans on Lovisa and believe its U.S. expansion could drive strong profit growth over the next few years.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.