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Last week, a number of brokers’ notes found their way back into banknotes. Three buy ratings investors may want to be aware of are listed below.
Here’s why brokers believe investors should buy them next week:
Core Lithium Ltd (ASX: CXO)
Macquarie’s analysts maintained an outperform rating and a $1.70 price target on the lithium mining company’s stock, according to a note. Macquarie notes that Core Lithium has just completed a $100 million institutional placement and the first direct delivery sale of its spodumene ore through a digital exchange platform. As for the latter, the broker was impressed by the high price Core fetched. As for the former, he believes Core Lithium is now well positioned to accelerate its growth. At the end of the week, Core Lithium’s share price was trading well below its $1.15 price target.
Goldman Sachs said in a note that its analysts have initiated coverage on the technology company’s stock with a buy rating and a $7.50 target price. Goldman sees significant growth ahead for Life360 thanks to its total addressable market of US$12 billion. In addition, its analysts believe that Life360 is reaching an inflection point in terms of volume and pricing, and potential structural profitability is just around the corner. Shares of Life360 traded at $5.20 at the close on Friday.
Another note from Macquarie shows that its analysts have maintained an outperform rating and a $1.90 price target on the medical device company’s stock. Macquarie was impressed by PolyNovo’s sales update in the first quarter and highlighted its record results in September. It appears that this strong form may continue, especially with the recent FDA approval of a new MTX product. Macquarie expects this to increase its offering and diversify its sales. PolyNovo shares ended the week at $1.75.