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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Corporate Travel Management Ltd (ASX: CTD)
According to a note out of UBS, its analysts have retained their buy rating but trimmed their price target on this corporate travel specialist's shares to $26.35. Although the broker notes that industry feedback is pointing to strong demand for corporate travel, its analysts have reduced their earnings estimates slightly to reflect inflationary and labour pressures. Nevertheless, it still sees plenty of value in its shares at the current level even after doing so. The Corporate Travel Management share price is trading at $17.80 today.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Ord Minnett reveals that its analysts have retained their buy rating but cut their price target on this pizza chain operator's shares to $88.00. Ord Minnett acknowledges that Domino's is facing a number of headwinds such as a weak Japanese yen and inflation. However, it believes these are understood by the market and factored into its share price. In light of this, the broker continues to see a lot of value in its shares, particularly in comparison to peers. The Domino's share price is fetching $68.46 this afternoon.
Nitro Software Ltd (ASX: NTO)
Analysts at Goldman Sachs have retained their buy rating with a reduced price target of $2.05 on this document productivity software company's shares. While disappointed with the company's quarterly update and guidance reduction, Goldman is keeping the faith. It continues to see Nitro as an undervalued global growth opportunity for investors. The Nitro share price is trading at $1.16 on Wednesday.
