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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this gaming technology company's shares to $52.90. This follows the announcement of the proposed $5 billion acquisition of London-listed leading global online gambling software and content supplier, Playtech. Morgans notes that this will give the company immediate scale and capacity in the fast-growing online real money gaming (RMG) space. The Aristocrat share price was fetching $45.79 prior to its trading halt.
BHP Group Ltd (ASX: BHP)
Another note out of Morgans reveals that its analysts have upgraded this mining giant's shares to an add rating with an improved price target of $46.05. While the broker remains cautious on the iron ore market and is forecasting further declines in the price of the steel making ingredient, it still sees a lot of value in the BHP share price. Particularly given its petroleum demerger and belief that BHP's shares will offer a 10% dividend yield in FY 2022. The BHP share price is trading at $38.75 today.
IGO Ltd (ASX: IGO)
Analysts at Credit Suisse have upgraded this mining company's shares to an outperform rating and lifted their price target on them to $10.70. According to the note, the broker made the move after increasing its valuation to reflect IGO's exposure to the tier-one lithium business at Greenbushes. It also likes the company's low cost profile and expansion opportunities. The IGO share price is fetching $9.70 on Wednesday afternoon.
