Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three buy ratings that have caught my eye are summarised below. Here's why brokers think these ASX shares are in the buy zone:
CSL Limited (ASX: CSL)
According to a note out of UBS, its analysts have retained their buy rating and $223.00 price target on this global biotech giant's shares. The leading broker has held firm with its rating after the latest industry data revealed that immunoglobulins growth remains strong. This puts the company on course to achieve UBS' forecasts for FY 2019. I agree with UBS on CSL and believe it is one of the best buy and hold options that the Australian share market has to offer.
Qantas Airways Limited (ASX: QAN)
Analysts at Deutsche Bank have retained their buy rating and $6.40 price target on this airline operator's shares after U.S. authorities tentatively approved its joint venture with American Airlines. According to the note, the broker expects this arrangement to result in stronger returns for Qantas from its trans-Pacific operations. I think Deutsche is spot on with this recommendation and feel Qantas shares are trading at a very attractive level.
Super Retail Group Ltd (ASX: SUL)
A note out of Goldman Sachs reveals that its analysts have reiterated their buy rating and $10.70 price target on this retailer's shares. According to the note, the broker remains positive on Super Retail due to its belief that the combination of retail categories represented by its brands provide a diversified blend of earnings growth and industry drivers. In addition to this, it expects the company to benefit from management's plan to improve the performance of the core four brands through a range of enhancements. I agree with Goldman on Super Retail and think it is one of the best options in the retail sector.
