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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Baby Bunting Group Ltd (ASX: BBN)
According to a note out of Morgans, its analysts have retained their add rating but cut their price target on this baby products retailer's shares to $5.00. While the broker has reduced its estimates slightly to reflect tough trading conditions due to rising living costs, it remains positive on Baby Bunting. This is due largely to the defensive nature of baby goods and potential market share gains. The Baby Bunting share price is trading at $4.41 on Wednesday.
CSL Limited (ASX: CSL)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $312.00 price target on this biotherapeutics company's shares. Morgan Stanley has echoed recent comments from other brokers regarding plasma collection levels returning to pre-COVID levels again. Its analysts believe this bodes well for CSL's outlook. The CSL share price is fetching $292.49 on Wednesday afternoon.
IDP Education Ltd (ASX: IEL)
Analysts at Goldman Sachs have retained their buy rating and $35.50 price target on this language testing and student placement company's shares. This follows the release of data which shows that student visa levels are now at almost 75% of pre-COVID levels in Australia. Goldman expects this to continue and reach 100% in FY 2023. All in all, the broker sees IDP as a structural growth story as international student markets open up. The IDP share price is trading at $24.84 today.
