With the majority of brokers across Australia taking a well-earned break, broker notes are extremely limited present.
In light of this, listed below are a few recent broker recommendations that remain very relevant today. Here are three ASX shares rated as buys:
CSL Limited (ASX: CSL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this biotherapeutics giant’s shares to $334.70. This follows the announcement of the acquisition of Vifor Pharma for US$17 billion. Morgans doesn’t believe this deal is a sign that CSL’s core business’ growth is coming to an end. Rather, it feels it is a complementary acquisition with a strong product portfolio that has growth opportunities. The CSL share price is trading at $293.25 on Thursday.
Nearmap Ltd (ASX: NEA)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $3.20 price target on this aerial imagery and location intelligence company’s shares. Morgan Stanley was pleased to see that Nearmap reported strong growth in the North American market in recent months. It feels this bodes well for its first half results in February. The Nearmap share price is fetching $1.54 today.
South32 Ltd (ASX: S32)
Analysts at Macquarie have retained their outperform rating and lifted their price target on this mining giant’s shares to $5.00. According to the note, the broker is a fan of South32’s acquisition of an interest in the Sierra Gorda Copper Mine in Chile. Macquarie notes that this gives the company further exposure to the decarbonisation theme. Its analysts also expect the deal to boost the company’s earnings and have upgraded their estimates to reflect this. The South32 share price is trading at $4.03 on Thursday.
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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 and has recommended CSL Ltd. and Nearmap Ltd. The Motley Fool Australia owns and has recommended Nearmap 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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