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:
Allkem Ltd (ASX: AKE)
According to a note out of Morgans, its analysts have retained their add rating but trimmed their price target on this lithium miner’s shares to $16.38. This follows the release of an update out of Allkem which revealed stronger pricing for its lithium carbonate but softer production for its spodumene operations. Overall, while this was a mixed update, the broker remains positive on Allkem, particularly given management’s production growth plans. The Allkem share price is trading at $11.63 today.
CSL Limited (ASX: CSL)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $310.00 price target on this biotherapeutics company’s shares. Morgan Stanley notes that updates from some of CSL’s peers have painted a favourable picture for industry trading conditions. In addition, the broker is pleased with the progress the company is making with its collection centre rollout. The CSL share price is fetching $270.90 on Wednesday.
Playside Studios Ltd (ASX: PLY)
Analysts at Ord Minnett have retained their speculative buy rating and 95 cents price target on this games developer’s shares. This follows news that the company has signed a new work for hire deal with tech giant Meta Platforms (Facebook) with a focus on virtual reality and the metaverse. The broker feels this further demonstrates the quality of the company’s studio. The Playside share price is trading at 70 cents on Wednesday.