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 ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. Citi notes that rival Telus released its third quarter results last week and revealed strong growth. The broker believes this hints at improving trends for artificial intelligence data projects from the major technology companies. This could bode well for demand for Appen’s services. The Appen share price is trading at $10.79 today.
Catapult Group International Ltd (ASX: CAT)
A note out of Morgans reveals that its analysts have retained their add rating and $2.45 price target on this sports analytics and wearables company’s shares. This follows Catapult’s investor briefing which saw management speak about its $2.6 billion total addressable market. While Morgans acknowledges that it is hard to verify the size of Catapult’s market, it is confident that the company has ample room to grow in the coming years. Morgans is also supportive of management’s strategy of up-selling and cross-selling products. The Catapult share price is fetching $1.74 on Wednesday.
CSL Limited (ASX: CSL)
Analysts at Macquarie have upgraded this biotherapeutics giant’s shares to an outperform rating and lifted its price target on them to $338.00. According to the note, the broker believes CSL’s medium to long term outlook is positive. This is thanks to increasing demand for its immunoglobulin products. In addition, Macquarie expects CSL’s new plasma collection platform to be more efficient and improve collections. The CSL share price is trading at $314.63 today.
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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 shares of and has recommended Appen Ltd, CSL Ltd., and Catapult Group International Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd and Catapult Group International Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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