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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 Morgans, its analysts have retained their add rating on this mining giant’s shares with a trimmed price target of $50.00. While the broker suspects that there could be some short-term risks to iron ore prices from mandatory cuts to China steel late in 2023, overall, it believes iron ore fundamentals remain healthy heading into 2024. In light of this, it continues to see value in BHP’s shares at the current level. The BHP share price is trading at $44.70 on Wednesday.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
A note out of Citi reveals that its analysts have upgraded this pizza chain operator’s shares to a buy rating with a $58.60 price target. Citi made the move on the belief that recent strategies are working and that Domino’s is now over the worst of its issues. It feels this should soon start to show in its financial results. The Domino’s share price is fetching $52.81 today.
Evolution Mining Ltd (ASX: EVN)
Analysts at Goldman Sachs have retained their buy rating and $4.00 price target on this gold miner’s shares. The broker has been running the rule over the gold sector and highlights that it retains its preference for near-term margins and free cash flow generation over long-term ounces and associated capex risk. It feels that Evolution ticks these boxes and is trading at a good price. The Evolution share price is trading at $3.55 this afternoon.
