Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a 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:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $339.00 price target on this biotherapeutics giant's shares. The broker has been looking at plasma collection volumes and believes they grew at a nice rate in May. This bodes well for the company's outlook and supports the broker's buy thesis. The CSL share price is trading at $307.93 today.
Graincorp Ltd (ASX: GNC)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $9.45 price target on this grain exporter's shares. Bell Potter notes that the June ABARE crop report is looking favourable for Graincorp. In fact, it feels that if the forecast proves accurate, there is meaningful upside risk to its earnings estimates. In light of this, it feels its shares are trading on undemanding levels currently. The Graincorp share price is fetching $8.01 this afternoon.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Morgans have retained their add rating and $5.00 price target on this lithium miner's shares. Although the broker feels that lithium prices are going to weaken from here, it still expects the company to be well-placed to deliver strong profits. So much so, Morgans believes that a share buy back could be on the cards in the near future. The Pilbara Minerals share price is trading at $4.64 today.
