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:
Control Bionics Ltd (ASX: CBL)
According to a note out of Morgans, its analysts have initiated coverage on this medical device company's shares with an add rating and $1.42 price target. The broker notes that the company's NeuroNode technology allows severely disabled people to operate and communicate via a computer using visual and neural signals. It appears positive on its long term future and notes that it is targeting a market worth $1.2 billion a year. The Control Bionics share price is trading at 98 cents today.
Hub24 Ltd (ASX: HUB)
Analysts at Citi have retained their buy rating and $24.00 price target on this investment platform provider's shares. The broker points out that the company has signed an agreement with IOOF Holdings Limited (ASX: IFL). While it sees some risks from the deal, overall it views it as a positive. In addition to this, the broker believes HUB24 is well-placed to benefit from the ongoing structural shift in wealth management. The HUB24 share price is changing hands for $20.82 on Thursday.
Medibank Private Ltd (ASX: MPL)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $3.15 price target on this private health insurer's shares. This follows the decision of the Federal Government to authorise a 3.25% increase in its premiums in 2021. It believes this is a positive for Medibank, though acknowledges that increasing premiums could lead to affordability issues for consumers. The Medibank share price is changing hands for $3.01 on Thursday afternoon.
