Once a week I like to take a look at the shares which brokers are tipping to climb higher over the coming months.
Three shares in particular which have been named as buys by leading brokers this week are listed below. Should you snap up shares?
CSL Limited (ASX: CSL)
According to a research note out of Citi, its analysts have reiterated their buy rating and $148 price target on this biotherapeutics company's shares. Citi appears to be bullish on the launch of CSL's Haegarda product for the treatment of hereditary angioedema. The subcutaneous therapy was granted FDA approval at the end of last month and is a significantly cheaper alternative to competing treatment Cinryze. I would have to agree with Citi that CSL is a buy. Not just because of Haegarda, but also due to its fast-growing immunoglobulins business and fledgling influenza vaccines business.
Fairfax Media Limited (ASX: FXJ)
Analysts at Citi have certainly been busy today. They have also upgraded this media company to a buy rating and increased their price target to $1.10. The investment bank appears to believe that the company is well positioned thanks to property listings growth and improvements in its operations. Whilst I am a fan of parts of its business such as Domain, I believe other parts of the business could act as a drag on its performance. In light of this, I would suggest investors skip this one.
Suncorp Group Ltd (ASX: SUN)
A note out of Deutsche Bank this morning reveals that its analysts have reiterated their buy rating and $14.60 price target on this leading insurer's shares. According to the note, the investment bank expects a solid full-year result with profit growth of approximately 5%. While it sees potentially negative impacts from the failed takeover of Tower Limited (Australia) (ASX: TWR), the broker believes that its majority stake should put off other suitors. I'm a big fan of Suncorp and wholeheartedly agree with Deutsche on this one. Thanks to the early success of its new operating model, I think Suncorp is one of the best dividend shares on the ASX.
