Australia’s top brokers have been busy adjusting their estimates and recommendations again, leading to the release of a number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Aristocrat Leisure Limited(ASX: ALL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $38.00 price target on this gaming technology company’s shares. The broker’s industry analysis appears to show that Aristocrat Leisure’s digital business is growing strongly. This is thanks largely to the success of its EverMerge and RAID games, which are generating strong revenues. The Aristocrat Leisure share price is trading at $34.50 on Friday afternoon.
Analysts at Morgans have upgraded this biotherapeutics giant’s shares to an add rating with a $301.10 price target. According to the note, the broker believes the recent weakness in the CSL share price has created a buying opportunity for investors. Especially given that the issues it is facing are temporary and not structural. In addition to this, while plasma collections remain tough, the broker appears optimistic that strong demand for flu vaccines will offset this. The CSL share price is fetching $253.07 on Friday.
Qantas Airways Limited(ASX: QAN)
A note out of Citi reveals that its analysts have upgraded this airline operator’s shares to a buy rating with an improved price target of $6.14. According to the note, Citi made the move following the government’s announcement of a major $1.2 billion stimulus package for the tourism sector. It expects Qantas to benefit from this development. In addition to this, Citi appears positive on Qantas’ cost cutting plans and feels it could support its shares if successful. The Qantas share price is trading at $5.29 this afternoon.
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