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:
Image Source: Getty Images
Graincorp Ltd (ASX: GNC)
According to a note out of Bell Potter, its analysts have retained their buy rating and $9.45 price target on this grain exporter's shares. The broker highlights that the company's shares are trading at levels consistent with the previous seasonal lows. It feels this makes its valuation undemanding and sees plenty of upside from levels. The Graincorp share price is trading at $7.18 today.
Polynovo Ltd (ASX: PNV)
A note out of Morgans reveals that its analysts have initiated coverage in this medical device company's shares with an add rating and $1.88 price target. The broker believes Polynovo is well-placed for growth in the coming years thanks to expanding indications for its NovoSorb products. It is expecting this to lead to Polynovo achieving breakeven in FY 2024. The PolyNovo share price is fetching $1.34 on Wednesday.
Qantas Airways Limited (ASX: QAN)
Analysts at Morgan Stanley have retained their overweight rating and $9 price target on this airline operator's shares. Although the broker was surprised with Alan Joyce's early exit as CEO, it doesn't change anything for its analysts. This is because the transition has been flagged for some time. Morgan Stanley also appears optimistic that this news could bring an end to recent negative press. The Qantas share price is trading at $5.71 this afternoon.
