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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:
According to a note out of Credit Suisse, its analysts have upgraded this health supplements company’s shares to an outperform rating with a $90.00 price target. Although the broker was not overly impressed with Blackmores’ full year results, it believes that its shares have fallen to an attractive level with more upside potential than downside risk. The Blackmores share price is trading at $71.09 today.
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this biotherapeutics company’s shares to $329.50. Macquarie was pleased with the company’s guidance for FY 2023 and believes it is well-placed to build on this in FY 2024. Particularly given improving trading conditions and the new Rika plasma collection platform. The CSL share price is fetching $294.63 on Friday.
Analysts at Morgans have retained their add rating and lifted their price target on this health imaging technology company’s shares to $58.18. This follows the release of a strong result for FY 2022 earlier this week. Morgans was particularly pleased with the company’s margins, which were well ahead of expectations. It feels this highlights the operating leverage of the business. The broker also notes that the company’s outlook remains as strong as ever, highlighted by an increasing number of requests for tender proposals. The Pro Medicus share price is trading at $54.00 today.
