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 ASX shares brokers have named as buys this week are listed below. Here's why they are bullish on them:
Image source: Getty Images
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $323 price target on this biotherapeutics company's shares. This follows reports that Mexicans will be able to continue crossing the US border to donate plasma. Morgan Stanley estimates that approximately 10% of CSL's collections come from centres close to the US-Mexico border, so this is positive news. The CSL share price is trading at $282.55 today.
IDP Education Ltd (ASX: IEL)
Another note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $35.00 price target on this language testing and student placement company's shares. This follows the announcement of a deal to acquire Intake Education for $83 million. Morgan Stanley expects the deal to be earnings per share accretive and notes that it should boost IDP's presence in the high-growth African market. The IDP Education share price is fetching $27.64 on Wednesday.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Macquarie have retained their outperform rating and $5.60 price target on this lithium miner's shares. According to the note, the broker was pleased with the results of Pilbara Minerals' latest battery material exchange auction. It notes that the company commanded a price that was up 10% month on month. It feels this reflects the current tightness in the lithium market. The Pilbara Minerals share price is trading at $4.95 today.
