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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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating and $41.00 price target on this gaming technology company's shares. While the broker acknowledges that Aristocrat's digital business is facing tough trading conditions, it believes its land-based business continues to perform well. So much so, the broker feels it could surprise the market with its earnings. The Aristocrat share price is trading at $34.80.
Metcash Limited (ASX: MTS)
A note out of Ord Minnett reveals that its analysts have upgraded this wholesaler's shares to a buy rating with an improved price target of $5.00. This follows the release of a solid trading update at its annual general meeting this week which revealed that its sales have been strong early in FY 2023. The broker has lifted its earnings estimates to reflect this. The Metcash share price is fetching $4.14 this afternoon.
ResMed Inc. (ASX: RMD)
Analysts at Credit Suisse have retained their outperform rating and lifted their price target on this sleep treatment company's shares to $40.00. This follows news that its rival Philips has been hit with another product recall. Credit Suisse suspects that this could lead to market share gains for ResMed and had bumped its estimates higher to reflect this. The ResMed share price is trading at $34.35 today.
