Top brokers name 3 ASX shares to buy today

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:

Baby Bunting Group Ltd (ASX: BBN)

According to a note out of Morgans, its analysts have retained their add rating but cut their price target on this baby products retailer’s shares to $5.00. While the broker has reduced its estimates slightly to reflect tough trading conditions due to rising living costs, it remains positive on Baby Bunting. This is due largely to the defensive nature of baby goods and potential market share gains. The Baby Bunting share price is trading at $4.41 on Wednesday.

CSL Limited (ASX: CSL)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $312.00 price target on this biotherapeutics company’s shares. Morgan Stanley has echoed recent comments from other brokers regarding plasma collection levels returning to pre-COVID levels again. Its analysts believe this bodes well for CSL’s outlook. The CSL share price is fetching $292.49 on Wednesday afternoon.

IDP Education Ltd (ASX: IEL)

Analysts at Goldman Sachs have retained their buy rating and $35.50 price target on this language testing and student placement company’s shares. This follows the release of data which shows that student visa levels are now at almost 75% of pre-COVID levels in Australia. Goldman expects this to continue and reach 100% in FY 2023. All in all, the broker sees IDP as a structural growth story as international student markets open up. The IDP share price is trading at $24.84 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• $264 million! The 10 highest-paid CEOs on the ASX
• Why this broker says the IDP Education share price can rise almost 50%
• 5 things to watch on the ASX 200 on Wednesday
• What are brokers saying about the CSL share price?
• What’s the outlook for ASX biotech shares in FY23?

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 Idp Education Pty Ltd. The Motley Fool Australia has recommended Baby Bunting. 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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