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:
Coronado Global Resources Inc (ASX: CRN)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this coal miner's shares to $3.50. Macquarie has upgraded its earnings estimates materially to reflect higher coal prices. Overall, it feels Coronado is the best way for investors to gain exposure to sky high coal prices right now. The Coronado share price is trading at $1.68 on Wednesday afternoon.
Ramsay Health Care Limited (ASX: RHC)
A note out of Citi reveals that its analysts have retained their buy rating on this private hospital operator's shares with a trimmed price target of $73.00. The broker notes that Ramsay's shares have fallen heavily after takeover talks with KKR collapsed. It sees this as a buying opportunity, highlighting that its shares are trading at an attractive level now. Furthermore, if Ramsay's shares rise to its price target, it will mean they are trading at 25x FY24 earnings, which Citi feels is fair. The Ramsay share price is fetching $62.98 today.
Temple & Webster Group Ltd (ASX: TPW)
Analysts at Morgan Stanley have retained their overweight rating and $7.00 price target on this online furniture retailer's shares. Morgan Stanley continues to believe that Temple & Webster's shares trade at an attractive level following a sharp decline year to date. Particularly for a leader in a structural growth market. The Temple & Webster share price is trading at $5.67 this afternoon.
