Brokers name 3 ASX shares to buy now

Brokers are speaking very positively about these ASX shares right now…

| More on:
A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her

Image source: Getty Images

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 Morgan Stanley, its analysts have retained their overweight rating and $354.00 price target on this biotherapeutics giant's shares. This follows the release of an update from rival Takeda, which appears to indicate that the immunoglobulins market is strengthening. As a result, the broker believes that the key CSL Behring business is well-placed to deliver strong top line growth in FY 2023. The CSL share price is trading at $312.71 on Friday.

James Hardie Industries plc (ASX: JHX)

Analysts at Goldman Sachs have initiated coverage on this building products company's shares with a buy rating and $40.50 price target. While Goldman notes that near-term risks remain skewed to the downside, it believes the market has already priced in a trough in James Hardie's earnings in FY 2024. Its analysts feel that this provides cyclical upside to the current share price. The James Hardie share price is fetching $34.56 today.

Megaport Ltd (ASX: MP1)

A note out of Morgans reveals that its analysts have retained their add rating on this network as a service company's shares with a trimmed price target of $8.25. While Morgans acknowledges that it is difficult to know if the current declining sales momentum will persist, it appears optimistic it will only be a short term thing. In light of this, it sees value in Megaport's shares for those with a higher risk profile. The Megaport share price is trading at $5.99 this afternoon.

Motley Fool contributor James Mickleboro has positions in CSL. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Megaport. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Broker Notes

Down 16% in 6 weeks: Is this ASX 200 share a bargain buy?

Bell Potter has given its verdict on this beaten down stock.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

A trio of ASX shares analysts huddle together in an office with computer screens all around them showing share price movements
Broker Notes

Why brokers just revised their outlook for these 4 top ASX All Ords shares

These four ASX All Ords companies were just re-rated by top brokers.

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Broker Notes

Morgans says these ASX stocks can rise 20% (and pay big dividends!)

The broker believes some very big returns could be on the cards over the next 12 months.

Read more »

A man sits in deep thought with a pen held to his lips as he ponders his computer screen with a laptop open next to him on his desk in a home office environment.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

happy investor, share price rise, increase, up
Broker Notes

These ASX 200 shares could rise 15% to 50%

Analysts think these shares can rise strongly from where they trade today.

Read more »

a man peers through a broken brick wall to see grey clouds gathering beyond it
Share Market News

Why this smashed ASX 200 share is a fundie's top value pick

It's an ASX consumer discretionary stock that has lost 40% of its value over the past year.

Read more »

Happy man working on his laptop.
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »