Here’s why brokers rate these ASX shares as buys…
The post Leading brokers name 3 ASX shares to buy appeared first on The Motley Fool Australia. –
With most brokers still taking a well-earned break, broker notes are few and far between at present.
In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here’s are three ASX shares rated as buys:
Accent Group Ltd (ASX: AX1)
According to a note out of UBS, its analysts have put a buy rating and $3.00 price target on this footwear retailer’s shares. UBS is bullish on Accent due to its positive long term outlook which is being underpinned by the expansion of its store network across numerous brands. The broker is expecting operating leverage to support its earnings growth in the future as its network grows. The Accent share price is trading at $2.45 on Tuesday.
CSL Limited (ASX: CSL)
A note out of Citi reveals that its analysts have put a buy rating and $340.00 price target on this biotherapeutics giant’s shares. The broker made the move in response to CSL’s acquisition of Vifor Pharma for ~US$17 billion. Citi appears supportive of the acquisition and expects it to be accretive to CSL’s earnings. Its analysts also highlight that management presented the transaction as being strategically aligned with the existing business. The CSL share price is fetching $293.11 today.
Newcrest Mining Ltd (ASX: NCM)
Analysts at UBS also have a buy rating and $27.00 price target on this gold miner’s shares. According to the note, the broker has lifted its long term gold price estimate to US$1,500 an ounce. Combined with its belief that Newcrest is better positioned for growth than some of its peers due to M&A and reinvestments, it feels this makes it a good option for investors looking for exposure to gold. The Newcrest share price is trading at $24.50 on Tuesday afternoon.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.