A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.
Three shares that are in favour with brokers and have been given a buy rating are listed below. Here's why they are bullish on them:
CSL Limited (ASX: CSL)
According to a note out of Credit Suisse, its analysts have upgraded this biotherapeutics company's shares to an outperform rating from neutral and lifted the price target on them to $249.00 following the release of its full year results. The broker was pleased with its full year result, particularly the sales growth of a number of key products. And while it has concerns over its Specialty products, it isn't enough to stop the broker from upgrading its shares. I agree with Credit Suisse and feel CSL's shares would be a great investment.
Telstra Corporation Ltd (ASX: TLS)
A note out of Morgans reveals that its analysts have retained their add rating and lifted the price target on this telco giant's shares slightly to $4.49 following the release of its full year results. According to the note, Telstra's result was in line with the broker's expectations and it was pleased with management's earnings guidance for FY 2020 (excluding NBN impacts). The broker has upgraded its guidance due to its better cost control and lifted its price target accordingly. I think Morgans is spot on with this one and would also class its shares as a buy.
Whitehaven Coal Ltd (ASX: WHC)
Analysts at Morgan Stanley have retained their overweight rating and $4.75 price target on this coal miner's shares. According to the note, Whitehaven delivered a full year result ahead of the broker's expectations in FY 2019. In addition to this, it was pleasantly surprised with the generous dividend that its board declared, which offset the disappointment of softer than expected guidance for FY 2020. Whilst it wouldn't be my first pick in the resources sector, I agree that its shares look to be good value at current levels.
