Last week was a quiet one in respect to broker notes due to the Christmas break.
In light of this, I thought I would pick out three recent broker buy recommendations that have stood out this month.
Here's why leading brokers think investors should consider buying these ASX shares when the market reopens:
Audinate Group Ltd (ASX: AD8)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $10.30 price target on this digital audio-visual networking technology provider. The broker left Audinate's investor day event feeling even more confident in its prospects. It notes its competitive advantage and long-term growth opportunity. In addition to this, Morgan Stanley appears confident in Audinate's opportunity in the video market. I agree with the broker on this one and feel it is one of the best small cap shares.
CSL Limited (ASX: CSL)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $300 price target on this biotherapeutics company's shares. According to the note, the broker thinks CSL is in the buy zone due to the positive outlook for immunoglobulins and its numerous promising drugs in late-stage development. It believes these should support its medium-term growth. I agree with Macquarie and believe CSL is a great buy and hold option for investors.
Lendlease Group (ASX: LLC)
Analysts at Citi have retained their buy rating and $24.72 price target on this international property company's shares. According to the note, the broker appears pleased with its decision to sell its Engineering business to Acciona for $180 million. And although it will be retaining the troubled Melbourne Metro project, Citi sees the overall sale as a positive. The broker also continues to believe that its shares could re-rate over the coming years as it evolves into a global property developer and fund manager. I agree with Citi and would be a buyer of its shares.
