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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Allkem Ltd (ASX: AKE)
According to a note out of Macquarie, its analysts have retained their outperform rating on this lithium miner's shares with an improved price target of $19.10. This follows news that Allkem has delivered its first production from Olaroz stage two. In addition, the broker has made some changes to its valuation model to reflect positive developments and its lower risk profile. The Allkem share price is trading at $16.55 today.
CSL Limited (ASX: CSL)
A note out of UBS reveals that its analysts have retained their buy rating and $340 price target on this biotherapeutics company's shares. This follows news that rival Argenx has achieved strong trial results for its immunoglobulins alternative. UBS isn't overly concerned by the news and estimates that even if every potential patient switched to this therapy, it would only impact CSL's revenues by approximately 3%. However, it feels this is unlikely to be the case. The CSL share price is fetching $265.35 this afternoon.
HUB24 Ltd (ASX: HUB)
Analysts at Morgans have retained their add rating on this investment platform provider's shares with a trimmed price target of $29.50. The broker was impressed with HUB24's performance during the fourth quarter of FY 2023. Particularly given the softer industry conditions during the period. And while Morgans suspects that the company will fall short of its FY 2024 funds under administration target, it is still expecting solid growth next year. The HUB24 share price is trading at $26.23 on Wednesday.
