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 and $346.00 price target on this biotech company’s shares. The broker has been looking into its Kcentra product and notes that its use has been growing strongly. It believes this will continue, which would be a big positive due to its low costs and meaningful contribution to CSL’s overall earnings. The CSL share price is trading at $302.70 this afternoon.
Nanosonics Ltd (ASX: NAN)
Analysts at Morgans have retained their add rating and $6.86 price target on this infection control specialist’s shares following the release of a trading update. Morgans notes that its performance is starting to pick up again with solid growth in consumables and its installed base so far in FY 2021. The Nanosonics share price is changing hands for $5.56 on Thursday.
Pushpay Holdings Ltd (ASX: PPH)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating but cut the price target on this donation platform provider’s shares to NZ$9.20 (A$8.60). This follows the release of Pushpay’s half year results on Thursday. Credit Suisse was pleased with the result and notes that the company is benefiting greatly from pandemic’s impact on the church sector. It also notes that the company has upgraded its guidance for the full year. Looking further ahead, the broker likes Pushpay due to its large market opportunity which it can grow into over the medium term. The Pushpay share price is currently fetching $7.60.
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Returns as of 6th October 2020
More reading
- Why the Pushpay (ASX:PPH) share price could be a growth opportunity
- Why these 4 ASX tech shares surged today
- ASX 200 ends mixed on Wednesday
- The Nanosonics (ASX:NAN) share price is surging higher
- Pushpay (ASX:PPH) share price on watch after dazzling first half 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., Nanosonics Limited, and PUSHPAY FPO NZX. The Motley Fool Australia has recommended Nanosonics Limited and PUSHPAY FPO NZX. 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.
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