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:
BHP Group Ltd (ASX: BHP)
According to a note out of Morgans, its analysts have retained their add rating on this mining giant's shares with a slightly trimmed price target of $48.40. The broker was pleased with BHP's decision to bid for the "easily digestible" OZ Minerals Limited (ASX: OZL) rather than make a transformational $100 billion acquisition at a high point in the cycle. It also highlights the potential synergies on offer if the Big Australian can find a way to make a deal happen. The BHP share price is trading at $38.42 today.
Megaport Ltd (ASX: MP1)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and lifted their price target on this network as a service provider's shares to $10.30. Goldman was pleased with Megaport's full year results and has bumped its earnings estimates higher to reflect an improved earnings trajectory. The Megaport share price is fetching $8.64 on Wednesday afternoon.
REA Group Limited (ASX: REA)
Analysts at Morgans have retained their add rating on this property listings company's shares with a trimmed price target of $143.00. This follows the release of a full year result that beat on the top line but fell a touch short on the bottom. Morgans remains positive on the future thanks largely to the strength of the key Australian business, which was a standout performer again in FY 2022. The REA share price is trading at $127.60 this afternoon.
