Business
The latest ASX broker “buy” ideas that got a valuation upgrade
If you are worried about our market running out of puff near its 11-month high, there are some ASX stocks that have been just given more room to run.
The S&P/ASX 200 Index (Index:^AXJO) is struggling on the wrong side of breakeven this morning as some fret about over stretched valuations.
However, top brokers these three ASX stocks are still good value as their price targets just got upgraded.
Bumper valuation upgrade
The Incitec Pivot Ltd (ASX: IPL) share price is one example. Morgan Stanley lifted its fair value target on the fertilizer supplier by 14.5% to $3.15 a share.
Rising soft commodity prices are expected to provide further support to fertilizer prices. That prompted the broker to increase its FY21 earnings forecast on…
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