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:
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Harvey Norman Holdings Limited (ASX: HVN)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this retail giant's shares with a trimmed price target of $4.70. Although disappointed with the company's first-half performance, Goldman believes the half represents the peak cash drag on franchisee support and sees a lot of value in its property. The broker also notes that ex-property, its shares are trading at just 6x FY 2024 estimated earnings. This compares to 14.5x earnings for its arch-rival. The Harvey Norman share price is trading at $3.78 this afternoon.
NextDC Ltd (ASX: NXT)
A note out of Morgans reveals that its analysts have retained their add rating on this data centre operator's shares with a reduced price target of $13.00. Morgans notes that NextDC delivered earnings slightly ahead of its expectations during the first half. The broker also highlights that management is expecting some material contract wins in the second half. The NextDC share price is fetching $10.55 on Wednesday.
Tyro Payments Ltd (ASX: TYR)
Another note out of Morgans revealed that its analysts have retained their add rating on this payments company's shares with an improved price target of $1.89. It was pleased with Tyro's performance in the first half. And based on its decent start to the second half, the broker expects the company to achieve its guidance in FY 2023. It also isn't ruling out another takeover approach this year, which it suspects would drive its shares beyond its price target. The Tyro share price is trading at $1.59 today.
