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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:
ANZ Group Holdings Ltd (ASX: ANZ)
According to a note out of Citi, its analysts have retained their buy rating and $29.95 price target on this banking giant’s shares. This follows the release of a solid quarterly update which revealed positive trends across the business. All in all, the broker was pleased with what it saw and remains bullish on the investment opportunity here. The ANZ share price is trading at $25.73 on Friday.
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $354.00 price target on this biotherapeutics giant’s shares. This follows the release of a quarterly update from one of its partners. The broker suspects that the rollout of the new Rika plasma collection platform could be slower than expected and delay its earnings boost until next year. However, it isn’t enough to put Morgan Stanley off and it stays bullish on the company’s outlook. The CSL share price is fetching $303.99 this afternoon.
Another note out of Citi reveals that its analysts have retained their buy rating and $10.95 price target on this network as a service company’s shares. While the broker suspects that trading conditions could remain subdued in the second half, it remains positive due to Megaport’s strong sales pipeline and improved sales performance in January. The Megaport share price is trading at $5.90 today.
