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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:
According to a note out of Macquarie, its analysts have retained their outperform rating and $340.00 price target on this biotherapeutics company’s shares. The broker sees potential for CSL to outperform expectations over the medium term thanks to improved plasma collection yields boosting its margins. In addition, it notes that its research and development pipeline should be supportive of future growth. The CSL share price is trading at $286.23 on Wednesday.
Mineral Resources Ltd (ASX: MIN)
Another note out of Macquarie reveals that its analysts have retained their outperform rating on this mining and mining services company’s shares with an improved price target of $125.00. Macquarie remains positive on the lithium industry and has named Mineral Resources as one of its top two picks. And while it has lowered its lithium price forecasts, it still expects the company to deliver strong earnings and dividend growth in FY 2023 and FY 2024. The Mineral Resources share price is fetching $79.44 today.
New Hope Corporation Limited (ASX: NHC)
Analysts at Morgans have retained their add rating on this coal miner’s shares with a trimmed price target of $6.35. Although New Hope’s half-year results were a touch short of expectations, the broker remains positive. It believes any M&A activity will be conservative and allow significant shareholder returns to be undertaken over the next couple of years. The New Hope share price is trading at $5.61 this afternoon.
