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 shares are in the buy zone:
Afterpay Ltd (ASX: APT)
According to a note out of Citi, its analysts have retained their buy rating and $31.10 price target on this payments company’s shares. After looking through website traffic data, the broker has concluded that Afterpay is likely to have ended 2019 on a strong note. Another positive is app download data, which appears to support its positive view. Whilst Afterpay’s shares are now trading just a fraction away from Citi’s price target, I would still be a buyer of them with a long-term view.
CSL Limited (ASX: CSL)
Analysts at Credit Suisse have retained their outperform rating and $305.00 price target on this biotherapeutics company’s shares. According to the note, industry data is pointing to robust immunoglobulins demand and strong pricing. Credit Suisse believes that CSL is in a position to benefit greatly from the tight market conditions and is forecasting above-market growth. I think Credit Suisse is spot on and believe CSL would be a great option for investors.
Ingenia Communities Group (ASX: INA)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $5.00 price target on this retirement and holiday communities developer’s shares. According to the note, the broker remains positive on Ingenia following its recent update. While Ingenia has been impacted by the devastating bushfires, it is confident that both revenue and settlements will recover in FY 2021. Beyond this, the broker believes its long-term growth potential is very positive. This is thanks to strong customer demand from an increasing cohort of retirees with little or no retirement savings. I think Goldman makes some great points and it could be worth a closer look.
Where to invest $1,000 right now
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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 AFTERPAY T FPO and 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.