With most brokers taking a break over the holiday period, there haven't been many notes hitting the wires.
But never fear! Summarised below are three recent recommendations that remain very relevant today. Here's what brokers are saying about these ASX shares:
Boss Energy Ltd (ASX: BOE)
According to a note out of Bell Potter, its analysts retained their buy rating on this uranium producer's shares with a reduced price target of $4.70. The broker acknowledges that Boss Energy is one of the most shorted shares on the Australian share market. And while it expects the company's costs to come in ahead of expectations, it doesn't believe it will be as bad as short sellers are forecasting. As a result, it thinks short sellers run the risk of being squeezed. So, with its shares screening as incredibly cheap against North American peers, Bell Potter suspects that its shares could re-rate significantly if things go to plan. The Boss Energy share price ended the week at $2.61.
CSL Ltd (ASX: CSL)
A note out of UBS revealed that its analysts retained their buy rating on this biotechnology company's shares with a trimmed price target of $330.00. According to the note, the broker has reduced its earnings estimates and valuation to reflect its belief that trading conditions are not as favourable as hoped for CSL's vaccines business. However, the broker remains bullish on CSL. This is due to the positive outlook for its key CSL Behring plasma business. UBS feels that consensus estimates are achievable, and solid earnings growth is on the way thanks partly to expanding margins. The CSL share price was fetching $283.43 at Friday's close.
Pro Medicus Limited (ASX: PME)
Analysts at Morgan Stanley initiated coverage on this health imaging technology company's shares with an overweight rating and $300.00 price target. According to the note, the broker believes that Pro Medicus has similar qualities to logistics software developer WiseTech Global Ltd (ASX: WTC). Like WiseTech's solutions, Morgan Stanley highlights that Pro Medicus' solutions are very scalable and have relatively low penetration of global markets and low customer churn rates. Morgan Stanley believes this positions Pro Medicus to grow its customer volumes quicker than the industry over the next five years. It is expecting customer volume growth of roughly 7% per annum, whereas it expects the industry to grow at a much lower rate of 2.3% per annum. The Pro Medicus share price was trading at $253.39 on Friday.
