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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CSL Limited (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating and $335.00 price target on this biotherapeutics giant's shares. Citi has been looking at the impact that the soon to complete acquisition of Vifor Pharma will have on CSL's earnings. While the broker suspects that the impact will be minimal in the near term, it still believes the acquisition closing will be a boost to its shares. Though, the biggest impact is likely to come from plasma collection improvements. The CSL share price is trading at $267.85 on Wednesday.
Rio Tinto Limited (ASX: RIO)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $140.00 price target on this mining giant's shares. Macquarie believes Rio Tinto is well-placed to benefit from booming alumina prices. And given how aluminium is a big part of the miner's profits, this bodes well for dividends in the near term. Especially with iron ore prices still trading at high levels. The Rio Tinto share price is fetching $113.95 today.
Sonic Healthcare Limited (ASX: SHL)
Analysts at Credit Suisse have upgraded this healthcare company's shares to an outperform rating with a $40.00 price target. The broker made the move largely on valuation grounds following a sharp pullback in its share price this year. In addition, Credit Suisse believes that Sonic still has a big opportunity in PCR testing even as testing shifts to RATs. Its analysts also highlight that the company's base business is expected to benefit from pent up demand. The Sonic share price is trading at $35.39 this afternoon.
