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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CSL Ltd (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $334.00 price target on this biotechnology company's shares. The broker has been looking at the plasma collection market and was pleased with what it saw in respect to collections and the company's network rollout. In light of this, it remains as positive as ever on the company's outlook. The CSL share price is trading at $293.11 today.
Elders Ltd (ASX: ELD)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this agribusiness company's shares with an improved price target of $9.50. This follows favourable weather conditions which it believes will be supportive of Elders' business. And while the broker is forecasting an earnings decline in FY 2024, it then expects strong earnings growth in both FY 2025 and FY 2026. It appears to believe that this makes its shares great value at current levels. The Elders share price is fetching $8.48 this morning.
Liontown Resources Ltd (ASX: LTR)
Another note out of Bell Potter reveals that its analysts have retained their speculative buy rating on this lithium developer's shares with a reduced price target of $1.60. While the broker has slashed its valuation to reflect Liontown's disappointing update this week, it still sees plenty of value on offer for investors with a high risk tolerance. This is because it believes Liontown's Kathleen Valley lithium project is highly strategic in terms of its stage of development, long mine life, and location. The Liontown share price is trading at 95 cents on Wednesday.
