It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
CSL Limited (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this biotherapeutics giant’s shares to $330.00. Citi notes that there have been several data points influencing its view on the plasma industry. The good news is that the data is positive, with plasma product demand strong and plasma collections now back to pre-pandemic levels. The CSL share price is trading at $270.72 on Friday.
Lovisa Holdings Ltd (ASX: LOV)
A note out of UBS reveals that its analysts have retained their buy rating but cut their price target on this fashion jewellery retailer’s shares to $16.00. While UBS has concerns about consumer spending in the discretionary category and has downgraded its sales and earnings estimates, it still expects solid earnings growth from Lovisa in the coming years. In light of this, it sees its shares as good value following recent weakness. The Lovisa share price is fetching $13.88 today.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Macquarie have retained their outperform rating and $3.90 price target on this lithium miner’s shares. This follows news that Pilbara Minerals has already received and accepted a record bid for its lithium cargo before the June auction. Outside this, the broker believes the market is valuing the company as though lithium prices will fall by over two-thirds from current spot prices. Whereas it is expecting prices to remain stronger for longer. The Pilbara Minerals share price is trading at $2.19 this afternoon.