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 broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX 200 shares are in the buy zone:

CSL Limited (ASX: CSL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and cut the price target on this biotherapeutics company’s shares to $323.00. The broker has reduced its earnings forecasts for FY 2021 and FY 2022 due to concerns that higher plasma collection costs could impact its margins. Nevertheless, it still sees a lot of value in CSL’s shares at the current level and has retained its outperform rating. I agree with Credit Suisse and feel that CSL is in the buy zone after its recent pullback.

Harvey Norman Holdings Limited (ASX: HVN)

Analysts at Goldman Sachs have retained their buy rating and lifted the price target on this retailer’s shares to $4.05. According to the note, Harvey Norman’s sales for the five months ended 31 May 2020 were stronger than it expected. And while the broker notes that the company has not revealed whether its strong sales growth has flowed through to the bottom line, it believes the announcement of a special dividend is an indication that this has happened. Outside this, it notes that its shares are trading on lower than normal multiples despite a strong gain over the last month. I think Goldman makes some good points and Harvey Norman could be worth considering.

Northern Star Resources Ltd (ASX: NST)

Another note out of Credit Suisse reveals that its analysts have upgraded this gold miner’s shares to an outperform rating with a $14.70 price target. The broker made the move after increasing its gold price forecasts through to 2022. And while there are many gold miners that will benefit from the strong gold price, it believes Northern Star is a top pick. Especially given its current valuation. I agree with Credit Suisse and believe Northern Star would be a good option for investors wanting exposure to gold.

More reading

• Should I keep my stake at the current Monadelphous share price?
• All Technology Index sees stunning comeback
• Is the Scentre share price cheap today?
• ASX bank share prices tumble as they aren’t out of the COVID-19 woods yet
• ASX 200 drops 2%: Big four banks sink lower, JB Hi-Fi to deliver strong profit growth

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Top brokers name 3 ASX 200 shares to buy today appeared first on Motley Fool Australia.

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The Scentre Group (ASX: SCG) share price has plummeted 6.51% lower today but is the ASX real estate investment trust (REIT) in the buy zone?

Why is the Scentre Group share price crashing lower?

The S&P/ASX 200 Index (ASX: XJO) has fallen 2.29% lower to 6,007.90 points at the time of writing. Scentre has dropped even lower in today’s trade despite no new announcements.

Scentre isn’t the only ASX REIT to be falling today. The Mirvac Group (ASX: MGR) share price is down 3.6% at $2.41 right now while Stockland Corporation Ltd (ASX: SGP) is down 5.63% to $3.69 per share.

ASX 200 shares have stabilised a lot since the bear market in February and March. However, I think the Scentre share price is one of the harder shares to value right now.

There’s a lot of uncertainty about Aussie real estate. That includes residential, office, commercial and industrial.

The Scentre share price is still down 36% this year despite a rally in recent weeks. Scentre owns and operates Westfield shopping centres around Australia and New Zealand.

That means Scentre is heavily focused on Aussie retail. Given the industry was struggling even before the coronavirus pandemic, there are still big question marks about a rebound in 2020 or 2021.

That means shares in ASX REITs like Scentre remain volatile. 

Is the Aussie REIT in the buy zone?

A 6.51% drop in one day’s trade means the Scentre share price may be cheap. However, I think it’s still a speculative buy right now given the current environment.

In contrast, today’s winners have largely been ASX gold shares.

The Northern Star Resources Ltd (ASX: NST) is up 7.46% today while Saracen Mineral Holdings Limited (ASX: SAR) shares have surged 5.65% higher.

It’s hard to say that there has been a fundamental shift in the Scentre share price from yesterday’s trade. That says to me that investors are still uncertain on where things are headed in the retail sector in 2020.

More reading

• ASX bank share prices tumble as they aren’t out of the COVID-19 woods yet
• ASX 200 drops 2%: Big four banks sink lower, JB Hi-Fi to deliver strong profit growth
• 3 ASX 200 shares I’d buy for 2020 and beyond
• What is the ASX impact of a fall in house prices?
• 3 great shares to buy now if you’re an ASX 200 investor in your 20s

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Scentre Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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Today, the Newcrest Mining Limited (ASX: NCM) share price is up almost 5% following the release of an exploration update by the company. The update reported strong drilling results from its Havieron and Red Chris sites. It’s preparing to expand known mineralisation during a time when gold is fetching $1733.31 per ounce.

Havieron

Newcrest commenced drilling at its Havieron Western Australia site in June 2019 and has continued to increase drilling activity since. It currently has 9 drill rigs in operation at the site with 20,200 metres drilled since the end of March 2019. This project is operated under a farm-in agreement and Newcrest now holds a 40% interest. Newcrest can earn up to a 70% joint venture interest in the project should it invest US$65 million and meet a series of exploration and development milestones by 2026.

According to the announcement, the drilling conducted at Havieron will expand known mineralisation by a further 220m. It also saw the best significant intercept at Havieron to date with 109m at 6.3g of gold per tonne.

In the report, Newcrest Managing Director and CEO, Sandeep Biswas said,

“We are excited by the drilling results at Havieron and Red Chris. At Havieron we have returned our best drill result to date and with the step out drilling result we see real potential to further expand this orebody. Getting underground is now the priority and we continue to progress the work to commence decline development by the end of this calendar year or early 2021.”

Red Chris

The Red Chris site is located in Canada and is a joint venture with Newcrest holding a 70% interest. The company has had an interest in this site since August 2019. Newcrest reported a total of 10,686 metres of drilling has been completed since the March quarter. Since the company entered the joint venture, this has equated to 40,069 metres of drilling. 

Drilling at Red Chris has been separated into 2 campaigns, one at the East Zone and one at Brownfields Exploration. The report stated, “Infill drilling at Red Chris has confirmed continuity of high grade within East Zone’. This positive news may have contributed to the increase in the Newcrest share price.

About the Newcrest share price

The Newcrest share price is up 44% from its 52 week low of $20.70. It is slightly up from its $29.82 price at the beginning of 2020. The Newcrest share price was looking hopeful before the coronavirus crisis hit. It has since recovered and is now $29.87 at the time of writing.

More reading

• ASX 200 drops 2%: Big four banks sink lower, JB Hi-Fi to deliver strong profit growth
• Why Aventus, Kogan, Newcrest, & Northern Star are pushing higher
• 5 things to watch on the ASX 200 on Thursday
• High gold price a boon for Silver Lake after latest drilling results
• ASX 200 Weekly Wrap: ASX bulls crash through 6,000 points

Motley Fool contributor Chris Chitty has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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