It has been another busy week for many of Australia’s top brokers. This has led to the release of a 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 right now:
CSL Ltd (ASX: CSL)
According to a note out of Macquarie, its analysts have retained their outperform rating and $330.00 price target on this biotherapeutics company’s shares. The broker has been looking at the US dollar and the impact it could have on CSL. And while it suspects that the greenback could act as an earnings headwind in the near term, it believes it will become a tailwind from FY 2026. Nevertheless, Macquarie doesn’t expect this to stop CSL from delivering double digits earnings growth over the next five years thanks to its plasma business. In light of this, the broker feels that the company’s shares are attractively price at current levels. The CSL share price is trading at $299.81 on Friday afternoon.
Premier Investments Limited (ASX: PMV)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $35.00 price target on this retail conglomerate’s shares. The broker has been looking at the company’s proposed demerger of the Peter Alexander and Smiggle brands and the potential merger with Myer Holdings Ltd (ASX: MYR). It is very positive on both proposals. In respect to the former, the broker sees a lot of value emerging from the potential demerger of Premier Investments’ two key brands. Particularly given that it thinks they are global roll-out worthy. In light of this, Bell Potter notes that the company remains a key preference within the consumer discretionary sector. The Premier Investments share price is fetching $29.59 at the time of writing.
Suncorp Group Ltd (ASX: SUN)
Analysts at Morgan Stanley have retained their overweight rating on this insurance giant’s shares with an improved price target of $20.20. According to the note, the broker believes that Suncorp’s shares are being undervalued by the market. It highlights that they are trading at a material and unjustified discount to rival Insurance Australia Group Ltd (ASX: IAG). Especially given its higher quality earnings and strong car insurance businesses. As a result, the broker suspects that Suncorp’s shares could soon re-rate to higher multiples and close this gap. The Suncorp share price is trading at $16.86 this afternoon.
The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
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More reading
- What happened with the CSL share price in FY 2024?
- The best ASX 200 shares to buy when interest rates fall
- Broker upgrades CSL shares to ‘buy’ —Â could they hit $335?
- Buy this undervalued ASX 200 stock ahead of its demerger
- Australian dividend machines: 3 ASX shares that generate reliable passive income
Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended CSL and Premier Investments. 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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