It was a busy week for Australia’s top brokers. This has led to a number of broker notes being released.
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:
ANZ Group Holdings Ltd (ASX: ANZ)
According to a note out of Citi, its analysts have retained their buy rating on this banking giant’s shares with a reduced price target of $39.25. The broker has been looking closer at potential impacts from proposed housing tax changes. Citi suspects that the changes could be a negative for the big four banks by slowing credit growth. As a result, it has adjusted its estimates to reflect this. The good news is that Citi believes mortgage growth will moderate more than business lending growth, which leaves ANZ, with its strong business franchise, better positioned to handle the slowdown. In light of this, the broker has named ANZ as its preferred major bank at present. The ANZ share price ended the week at $34.17.
CSL Ltd (ASX: CSL)
A note out of UBS reveals that its analysts have retained their buy rating on this biotechnology giant’s shares with a trimmed price target of $158.00. UBS is feeling more positive on the company’s outlook, believing that this year could mark the low point for CSL’s earnings. It highlights that cost savings from the company’s transformation program and lower plasma costs following a shift in collections could support its earnings growth in FY 2027. So, with the CSL share price trading at a discount to peer multiples, UBS thinks now could be a good time for investors to buy shares. The CSL share price was fetching $107.51 at Friday’s close.
WiseTech Global Ltd (ASX: WTC)
Analysts at Bell Potter have retained their buy rating on this logistics software company’s shares with a trimmed price target of $71.75. According to the note, the broker believes that WiseTech could be having a bit of difficulty moving some of its large customers over to the new CargoWise Value Packs this financial year. In light of this, Bell Potter has reduced its CargoWise revenue forecasts in the short to medium term. However, the broker remains positive and highlights that its price target is a significant premium to the current share price. It also believes the lack of progress with CargoWise Value Packs is already reflected in the share price as well as the risk of a revenue result at the low end of guidance. The WiseTech Global share price ended the week at $37.50.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in CSL and WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.