Top brokers name 3 ASX shares to buy today

CSL Limited (ASX:CSL) shares are one of three that top brokers have named as buys this week. Here's why…

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With earnings season gathering pace, brokers across Australia have been kept on their toes this week.

This has led to a good number of broker notes hitting the wires. Three buy ratings that caught my eye are listed below.

Here's why brokers are bullish on them:

CSL Limited (ASX: CSL)

According to a note out of Citi, its analysts have retained their buy rating and $218.00 price target on this global biotherapeutics company's shares following the release of its half year report. While the result was a touch mixed, it was largely in-line with the broker's expectations. It also notes that management has narrowed its guidance range upwards. Citi has suggested that the share price weakness today could have be down to the market already pricing in a small upgrade to this guidance. I think Citi is spot on and believe investors ought to seize on this weakness to buy shares.

Macquarie Group Ltd (ASX: MQG)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $133.00 price target on this investment bank's shares following its market update. According to the note, the broker was pleased to see the bank reaffirm its earnings guidance for FY 2019. This guidance is in-line with its expectations. In addition to this, the broker notes that Macquarie's asset management business has experienced strong flows during FY 2019, which was impressive given the tough trading conditions. I like Macquarie and would have to agree with Morgan Stanley that it is a buy.

Megaport Ltd (ASX: MP1)

Analysts at Goldman Sachs have upgraded Megaport's shares to a buy rating with a $4.75 price target following its half year results release. According to the note, the broker was pleased with Megaport's performance and expects revenue growth to accelerate in the second half as its investment in sales and marketing in the US market is showing evidence of gaining traction. In addition to this, the broker believes the ongoing migration to cloud infrastructure by enterprises is likely to remain a strong tailwind for the company. While it is a high risk option, I agree that Megaport could be a great buy and hold investment.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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