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 shares are in the buy zone:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of UBS, its analysts have retained their buy rating and lifted the price target on this gaming technology company's shares to $34.25. The broker notes that the vast majority of casinos in the United States are now open. It feels this bodes well for Aristocrat's overall growth in the near term. Especially given its growing digital business, which has been doing a lot of the heavy lifting lately. I agree with UBS and would be a buyer of its shares right now.
Cochlear Limited (ASX: COH)
Analysts at Morgan Stanley have retained their overweight rating and $229.00 price target on this hearing solutions company's shares. According to the note, the broker believes the company is winning market share and will continue to do so thanks to its new Kanso 2 product. In addition to this, it is a fan of Cochlear's Remote Check offering, which was approved by the FDA a few months ago. I think Morgan Stanley is spot on and feel Cochlear would be a great long term option for investors.
Sonic Healthcare Limited (ASX: SHL)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $35.00 price target on this healthcare company's shares. The broker notes that Sonic has just won another major COVID-19 testing contract in the United States. It estimates that this could be worth upwards of US$3 billion to the company over 12 months. I agree with Morgan Stanley and feel Sonic could be worth a closer look.
