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Top brokers name 3 ASX shares to buy today

Top brokers have named CSL Limited (ASX:CSL) and these ASX shares as buys. Here’s why they are bullish on them…
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia. –

Buy ASX shares

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.

Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

CSL Limited (ASX: CSL)

According to a note out of UBS, its analysts have retained their buy rating but trimmed their price target on this biotherapeutics company’s shares to $339.00 ahead of its half year results release. The broker is expecting a solid half year update from CSL due partly to strong demand for seasonal flu vaccines. Looking to the full year, UBS believes CSL is on course to achieve it guidance in FY 2021. The CSL share price is trading at $276.16 this afternoon.

Fortescue Metals Group Limited (ASX: FMG)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $26.50 price target on this mining giant’s shares. According to the note, the broker expects Fortescue to deliver a bumper half year profit next week thanks to the sky high iron ore price. Macquarie expects this to lead to Fortescue declaring a fully franked interim dividend of $1.37 per share. This dividend alone represents a yield of 5.8%. The Fortescue share price is fetching $23.77 on Wednesday.

Macquarie Group Ltd (ASX: MQG)

Analysts at Morgan Stanley have retained their overweight rating and lifted their price target on this investment bank’s shares to $160.00 following the release of its third quarter update. According to the release, the broker was pleased with Macquarie’s update and notes that it has numerous growth opportunities. Looking longer term, it believes the company is well-placed to benefit from a number of mega trends such as decarbonisation. The Macquarie share price is trading at $148.01 on Wednesday afternoon.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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