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:
Coles Group Ltd (ASX: COL)
According to a note out of Citi, its analysts have retained their buy rating and $19.30 price target on this supermarket giant's shares. This follows the announcement of the federal budget, which Citi expects to be a boost to disposable income. The broker expects supermarkets to be among the biggest winners from this. The Coles share price is trading at $17.62 on Wednesday afternoon.
EML Payments Ltd (ASX: EML)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this payments company's shares to $3.95. Macquarie believes that EML Payments will benefit from rising interest rates due to having several billion dollars of client funds stored across its platform. This is expected to be a big boost to interest income in the coming years. The EML Payments share price is fetching $2.95 today.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Citi reveals that its analysts have retained their buy rating and $13.78 price target on this wine giant's shares. This follows a virtual analyst event with Treasury Premium Brands' management team. Citi came away from the event confident that Treasury Wine has significant medium term earnings growth opportunities. This is underpinned by the re-opening of higher margin channels, a long runway of distribution growth, and margin expansion driven by premiumisation and supply chain savings. The Treasury Wine share price is trading at $11.80 on Wednesday.
