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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A2 Milk Company Ltd (ASX: A2M)
According to a note out of Bell Potter, its analysts have retained their buy rating and $6.60 price target on this infant formula company's shares. Bell Potter has been looking at industry data and believes it supports its positive view on the company. The broker also highlights that weakness in the New Zealand dollar is creating a tailwind given the majority of sales occur in AUD, USD and CNY. The A2 Milk share price is trading at $5.45 this afternoon.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
A note out of Morgans reveals that its analysts have retained their add rating on this coal export terminal operator's shares to $2.67. This follows news that the company has agreed a new Terminal Infrastructure Charge (TIC) with its customers. The new TIC is notably higher than previous levels, which has led to Morgans boosting its earnings and dividend estimates materially. The Dalrymple Bay Infrastructure share price is fetching $2.32 on Wednesday.
Rio Tinto Limited (ASX: RIO)
Analysts at Citi have retained their buy rating but trimmed their price target on this mining giant's shares to $115.00. Although the broker sees near term headwinds for metals demand, it remains positive on Rio Tinto. Particularly given its belief that metals demand and pricing will rebound during the second half of 2023. The Rio Tinto share price is trading at $94.80 on Wednesday afternoon.
