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 200 shares are in the buy zone:
CSL Limited (ASX: CSL)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and cut the price target on this biotherapeutics company’s shares to $323.00. The broker has reduced its earnings forecasts for FY 2021 and FY 2022 due to concerns that higher plasma collection costs could impact its margins. Nevertheless, it still sees a lot of value in CSL’s shares at the current level and has retained its outperform rating. I agree with Credit Suisse and feel that CSL is in the buy zone after its recent pullback.
Harvey Norman Holdings Limited (ASX: HVN)
Analysts at Goldman Sachs have retained their buy rating and lifted the price target on this retailer’s shares to $4.05. According to the note, Harvey Norman’s sales for the five months ended 31 May 2020 were stronger than it expected. And while the broker notes that the company has not revealed whether its strong sales growth has flowed through to the bottom line, it believes the announcement of a special dividend is an indication that this has happened. Outside this, it notes that its shares are trading on lower than normal multiples despite a strong gain over the last month. I think Goldman makes some good points and Harvey Norman could be worth considering.
Northern Star Resources Ltd (ASX: NST)
Another note out of Credit Suisse reveals that its analysts have upgraded this gold miner’s shares to an outperform rating with a $14.70 price target. The broker made the move after increasing its gold price forecasts through to 2022. And while there are many gold miners that will benefit from the strong gold price, it believes Northern Star is a top pick. Especially given its current valuation. I agree with Credit Suisse and believe Northern Star would be a good option for investors wanting exposure to gold.
And here are more top shares which analysts have just given buy ratings to…
One trick to potentially generating life-changing wealth from the stock market is to buy early-stage growth companies when their share prices still look dirt cheap.
Motley Fool’s resident tech stock expert Dr. Anirban Mahanti has identified 5 stocks he thinks are screaming buys. And you can buy them now for less than $5 a share!
* Extreme Opportunities returns as of June 5th 2020
More reading
- Should I keep my stake at the current Monadelphous share price?
- All Technology Index sees stunning comeback
- Is the Scentre share price cheap today?
- ASX bank share prices tumble as they aren’t out of the COVID-19 woods yet
- ASX 200 drops 2%: Big four banks sink lower, JB Hi-Fi to deliver strong profit growth
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 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.
The post Top brokers name 3 ASX 200 shares to buy today appeared first on Motley Fool Australia.
from Motley Fool Australia https://ift.tt/3hiGZ91
Leave a Reply