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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Australia and New Zealand Banking GrpLtd (ASX: ANZ)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $30.00 price target on this banking giant's shares. This follows news that the bank is combining its Digital Division, including ANZx, and its Australian retail business. Morgan Stanley is positive on the news and sees it as a good way to strengthen the all-important digital proposition and help turnaround its retail market share losses. The ANZ share price is currently trading at $25.76.
Block Inc CDI (ASX: SQ2)
A note out of Macquarie reveals that its analysts have initiated coverage on this payments giant's shares with an outperform rating and $230.00 price target. The broker believes that Block is well-placed to grow its ARPU thanks to management's plan to leverage its Afterpay and Cash Card offerings. The latter reached 13 million monthly active users at the end of December, representing more than 30% of its 44 million monthly transacting active user base. The Block share price is fetching $173.75 this afternoon.
Zip Co Ltd (ASX: Z1P)
Analysts at Morgans have retained their add rating but slashed their price target on this buy now pay later provider's shares down to $3.94. According to the note, the broker sees positives in its plan to acquire Sezzle Inc (ASX: SZL). It notes that the deal has the potential to help Zip win more merchants thanks to its larger combined customer base. The Zip share price is trading at $1.95 on Wednesday afternoon.
