Australia’s top brokers have been busy adjusting their estimates and recommendations 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 200 shares are in the buy zone:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Morgans, its analysts have retained their add rating and $21.00 price target on this banking giant’s shares. The broker has been looking at the big four bank’s dividends after APRA eased restrictions to allow them to pay out up to 50% of earnings to shareholders. As a result, the broker has pencilled in the declaration of a 25 cents per share deferred interim dividend next month by ANZ with its third quarter update. In light of this and its attractive valuation, Morgans remains positive on the investment opportunity with ANZ’s shares. I agree with the broker and would be a buyer right now.
CSL Limited (ASX: CSL)
Analysts at UBS have retained their buy rating and $331.00 price target on this biotherapeutics company’s shares. According to the note, the broker believes that demand for CSL’s flu vaccines in the northern hemisphere flu season will be strong because of the coronavirus pandemic. It feels this could underpin a strong performance for its Seqirus business in FY 2021. This could potentially offset any weakness from plasma collections. I agree with UBS and feel the recent weakness in the CSL share price is a buying opportunity for investors.
Macquarie Group Ltd (ASX: MQG)
Another note out of Morgans reveals that its analysts have retained their add rating and lifted the price target on this investment bank’s shares to $133.40. The broker was reasonably pleased with Macquarie’s first quarter update and notes that its key Banking and Financial Service business continues to perform strongly. In addition to this, it notes that the bank is very well-positioned to take advantage of opportunities that develop because of COVID-19 disruptions. I think Morgans makes some great points and Macquarie shares could be worth considering.
Legendary stock picker names 5 cheap stocks to buy right now
Motley Fool resident tech stock expert Dr. Anirban Mahanti has stumbled upon five stocks he believes could be some of the greatest discoveries of his investing career.
These little-known ASX stocks are growing like gangbusters, yet you can buy them today for less than $5 a share. Click here to learn more.
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 CSL Ltd. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. 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.
- 5 quality ASX shares to buy in August – August 11, 2020 5:05pm
- 3 of the best ETFs for ASX investors to buy right now – August 11, 2020 4:37pm
- 2 ASX dividend shares for income investors to buy right now – August 11, 2020 4:14pm