Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a large 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:
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Step One Clothing Ltd (ASX: STP)
According to a note out of Morgans, its analysts have initiated coverage on this recently listed online underwear retailer's shares with an add rating and $3.20 price target. The broker is a fan of Step One's organically grown bamboo fabric design and notes that its sales have been growing rapidly in Australia and the UK. Morgans also highlights that Step One has just launched in the US but doesn't expect it to stop there. The broker appears to see global potential. The Step One share price is trading at $2.91 today.
Telstra Corporation Ltd (ASX: TLS)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $4.40 price target on this telco giant's shares. This follows the release of an investor update this week relating to its T25 strategy. Credit Suisse was pleased to see management reaffirm its growth targets and plan to provide 5G coverage to 95% of the Australian population by 2025. The Telstra share price is fetching $3.97 on Wednesday.
Webjet Limited (ASX: WEB)
Analysts at Goldman Sachs have retained their buy rating and $7.00 price target on this online travel agent's shares. According to the note, ahead of its half year results next week, the broker revealed that it is expecting Webjet's total transaction value and revenue to bounce back materially. And while Goldman isn't expecting Webjet to be profitable during the half, it believes its balance sheet will be in a very strong position. The Webjet share price is trading at $6.09 this afternoon.
