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:
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Lendlease Group (ASX: LLC)
According to a note out of Citi, its analysts retained their buy rating and $9.50 price target on this property developer's shares. This was in response to news that the company is selling its Australian Communities business, which Citi highlights is in line with its strategy. In addition, the broker sees plenty of value in its shares despite the recent cancellation of a major US project reducing its pipeline. The Lendlease share price ended the week at $7.27.
Macquarie Group Ltd (ASX: MQG)
A note out of Morgan Stanley reveals that its analysts retained their overweight rating and $202 price target on this investment bank's shares. While the broker acknowledges that Macquarie may need catalysts for its shares to rerate, it appears to believe they are coming in FY 2025. For example, Morgan Stanley is forecasting earnings per share growth of 20%+ on normalising performance fees and gains on sale in the next financial year. It also highlights that commodities income is stabilising, which had been a concern for the market and was weighing on sentiment. The Macquarie share price was fetching $179.85 at Friday's close.
REA Group Ltd (ASX: REA)
Another note out of Morgan Stanley reveals that its analysts retained their overweight rating and $200 price target on this property listings company's shares. The broker was happy with REA's recent first-quarter update and particularly its good cost control and strong ad yields. It expects more of the same in the coming quarters. The REA share price ended the week at $177.63.
