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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BHP Group Ltd (ASX: BHP)
According to a note out of Macquarie, its analysts have retained their outperform rating but cut their price target on this mining giant's shares to $50.00. While Macquarie has trimmed its earnings estimates to reflect commodity price and foreign exchange movements, it remains positive. The broker continues to see BHP as the best large cap mining exposure. The BHP share price is trading at $38.14 this afternoon.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Ord Minnett reveals that its analysts have retained their buy rating and $99.00 price target on this pizza chain operator's shares. The broker highlights that Domino's has introduced a 6% service fee on deliveries to offset cost inflation. Its analysts believe this fee will boost profitability without impacting its position as a value option in the quick service restaurant market. The Domino's share price is fetching $74.07 on Wednesday.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Credit Suisse have retained their outperform rating and $13.50 price target on this wine company's shares. According to the note, the broker believes that Treasury Wine will benefit from a sharp decline in grape prices following a strong 2022 harvest. In addition, Credit Suisse sees opportunities for the company to increase prices in line with inflation to boost its margins. The Treasury Wine share price is trading at $11.30 on Wednesday.
