It has been another busy week for Australiaâs 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. Hereâs why brokers think these ASX shares are in the buy zone:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $354.00 price target on this biotherapeutics giantâs shares. This follows the release of an update from rival Takeda, which appears to indicate that the immunoglobulins market is strengthening. As a result, the broker believes that the key CSL Behring business is well-placed to deliver strong top line growth in FY 2023. The CSL share price is trading at $312.71 on Friday.
James Hardie Industries plc (ASX: JHX)
Analysts at Goldman Sachs have initiated coverage on this building products companyâs shares with a buy rating and $40.50 price target. While Goldman notes that near-term risks remain skewed to the downside, it believes the market has already priced in a trough in James Hardieâs earnings in FY 2024. Its analysts feel that this provides cyclical upside to the current share price. The James Hardie share price is fetching $34.56 today.
Megaport Ltd (ASX: MP1)
A note out of Morgans reveals that its analysts have retained their add rating on this network as a service companyâs shares with a trimmed price target of $8.25. While Morgans acknowledges that it is difficult to know if the current declining sales momentum will persist, it appears optimistic it will only be a short term thing. In light of this, it sees value in Megaportâs shares for those with a higher risk profile. The Megaport share price is trading at $5.99 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
- The CSL share price has boomed 13% in under a month. What’s going on?
- Tech boom! Buy these ASX tech shares before it’s too late: broker
- Buy this ASX 200 tech stock that’s crashed 27% this week: expert
- 5 things to watch on the ASX 200 on Friday
- Here are the top 10 ASX 200 shares today
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 Megaport. The Motley Fool Australia has recommended Megaport. 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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