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. –
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:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this banking giant’s shares to $30.00. Although the ANZ share price has performed strongly in recent months, the broker believes it can still go higher. This is due partly to its expectation that ANZ will deliver a better result than its big four rivals. The ANZ share price is fetching $27.89 this afternoon.
CSL Limited (ASX: CSL)
A note out of Credit Suisse reveals that its analysts have upgraded this biotherapeutics giant’s shares to an outperform rating with a slightly reduced price target of $315.00. According to the note, the broker acknowledges that trading conditions are somewhat tough and that CSL’s earnings could fall short of analyst expectations. However, it appears to believe this is understood by the market based on its share price performance. And while it sees potential threats in the global plasma market, it believes demand for CSL’s products would still be strong enough to underpin solid growth. The CSL share price is trading at $266.87 on Wednesday.
WiseTech Global Ltd (ASX: WTC)
Another note out of Macquarie reveals that its analysts have upgraded this logistics solutions company’s shares to an outperform rating with a $33.00 price target. According to the note, the broker believes the worst of the pandemic is now behind the company and has upgraded its earnings forecasts to reflect this. And while Macquarie is forecasting a moderation in its revenue growth in the coming years due partly to fewer acquisitions, it expects this to result in higher quality earnings. The WiseTech share price is trading at $28.05 this 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. and WiseTech Global. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.