It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about 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 Macquarie, its analysts have retained their outperform rating and $327.50 price target on this biotherapeutics giant’s shares. Macquarie notes that traffic volumes have been improving for its US plasma collection network and are now largely in line with pre-COVID levels. Its analysts believe this bodes well for its earnings growth in the coming years, which should also be boosted by the Vifor Pharma acquisition. The CSL share price is trading at $268.55 today.
Pro Medicus Limited (ASX: PME)
A note out of Morgans reveals that its analysts have retained their add rating and $56.20 price target on this health imaging technology company’s shares. This follows the announcement of a new major integrated delivery network (IDN) contract win. Morgans appears confident that this won’t be the last thanks to the shift to cloud-based software from legacy systems. The Pro Medicus share price is fetching $41.45 on Friday.
REA Group Limited (ASX: REA)
Another note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this property listings company’s shares to $144.00. This follows the release of an investor day update which outlined REA’s plans to deliver double-digit revenue and earnings growth through the cycle. Morgans was pleased with what it heard and appears supportive of the company’s focus on digitisation throughout the property value chain. The REA share price is trading at $112.53 this afternoon.
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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. has positions in and has recommended CSL Ltd. and Pro Medicus Ltd. The Motley Fool Australia has positions in and has recommended Pro Medicus Ltd. The Motley Fool Australia has recommended Macquarie Group Limited and REA Group Limited. 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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