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:
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Iluka Resources Limited (ASX: ILU)
According to a note out of Goldman Sachs, its analysts have added this mineral sands producer's shares to their conviction buy list with a $12.40 price target. Goldman made the move in response to its attractive valuation, compelling Zircon and TiO2 price upside, and rare earth growth potential. The broker also highlights the recent release of a larger-than-expected maiden resource on the Wimmera rare earth and zircon deposits in Victoria. The Iluka share price is trading at $11.15 on Thursday afternoon.
Select Harvests Limited (ASX: SHV)
A note out of Citi reveals that its analysts have retained their buy rating and $9.00 price target on this almond producer's shares. The broker believes Select Harvests is well-placed to benefit from tough operating conditions for its rivals in the United States. In addition, Citi points out that weather conditions haven't been favourable in California this month, which could be a positive for almond pricing. The Select Harvests share price is fetching $5.82 today.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Ord Minnett have retained their buy rating and lifted their price target on this telco giant's shares to $4.85. According to the note, the broker remains very positive on Telstra's outlook and continues to expect increased profitability and productivity gains from its fixed business. In addition, it sees opportunities for further asset monetisation, which could support increased dividends. The Telstra share price is trading at $4.20 this afternoon.
