S&P/ASX 300 Index (ASX: XKO) shares are having a belter with the index up 1.46% to 7,058.6 points.
The strong daily gain comes amid new United States inflation data released overnight.
Headline US inflation declined to 3.2% for the 12 months to October, down from 3.7% over the past two months.
Core inflation, which excludes volatile items like energy and food, came in at its lowest level in two years at 4%. These numbers could signal the end of interest rate hikes in the world's biggest economy.
Amid this news, brokers have upgraded the following four ASX 300 shares (courtesy The Australian).
CSL Limited (ASX: CSL)
The CSL share price is currently $259.98, up 2.5% at the time of writing. Top broker Goldman Sachs says the blue-chip ASX 300 biotech share is now at a "compelling entry point after [a] multiple de-rate". It has upgraded CSL to a buy rating with a 12-month share price target of $309, implying a 19% potential upside. Goldman's price target is conservative compared to other top brokers, with the most bullish being UBS, with its target of $340 per share. Ellerston Capital portfolio manager, Chris Kourtis says the CSL share price has been "absolutely pulverised" and is a great buy-the-dip opportunity for investors today.
Clinuvel Pharmaceuticals Limited (ASX: CUV)
The Clinuvel share price is $16.53, up 3.3% so far today. Morgans has commenced coverage of the ASX 300 healthcare share with an add rating and a $22 share price target. If Morgans has it right, investors could be set for a 33% gain in just 12 months. Clinuvel released a new presentation regarding its phase three vitiligo treatment program last Friday.
ALS Ltd (ASX: ALQ)
The ALS share price is $12.03, up 3.8% so far today. Jefferies has upgraded the ASX 300 industrial share to a buy rating with a $13.20 share price target. This implies a potential upside of just under 10%. The testing solutions company reported an underlying net profit after tax (NPAT) of $158 million and a partially franked interim dividend of 19.6 cents per share for the 1H FY24 period yesterday.
Maas Group Holdings Ltd (ASX: MGH)
The Maas Group share price is $3.57, down 0.56% today. Also an ASX 300 industrial share, Maas Group has attracted a buy rating from Jefferies. The broker has commenced coverage with a $4.25 target. This means investors who buy today could enjoy a 19% upside over the next 12 months. CEO and managing director Wes Maas discussed FY24 guidance at the AGM in late October, telling investors the company expected proforma earnings before interest, taxes, depreciation, and amortisation (EBITDA) in the range of $190 million to $210 million.
