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Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Breville Group Ltd (ASX: BRG)
According to a note out of Morgans, its analysts have retained their add rating and $25.00 price target on this appliance manufacturer’s shares. Although the broker acknowledges that Breville’s product range is clearly discretionary and expects to demand to weaken in the months ahead, it believes its shares are great value. Particularly in comparison to rival DeLonghi. It suspects that a solid result in February could put a rocket under them. The Breville share price is trading at $22.17 today.
Suncorp Group Ltd (ASX: SUN)
A note out of Goldman Sachs reveals that its analysts have initiated coverage on this insurance and banking giant’s shares with a buy rating and $13.88 price target. The broker believes rate increases have been strong and accelerated during the first half. It also suspects that a clear and rational focus on pricing and margins will offset higher reinsurance costs, perils allowances, and underlying claims inflation. Another positive is the prospect of significant capital returns after the sale of its banking operations. The Suncorp share price is fetching $12.75 today.
Universal Store Holdings Ltd (ASX: UNI)
Another note out of Morgans reveals that its analysts have retained their add rating and $6.70 price target on this fashion retailer’s shares. Morgans believes that Universal Store is one of the most underrated retailers on the Australian share market. It highlights that the company offers investors network growth, resilient demand, and price and cost discipline. The Universal Store share price is trading at $5.76 this afternoon.
