Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a 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:
IGO Ltd (ASX: IGO)
According to a note out of Citi, its analysts have retained their buy rating on this battery materials miner's shares with a slightly trimmed price target of $17.10. Citi was pleased with the company's performance during the first half and the record interim dividend. And while it suspects that lithium prices may have peaked, it still sees IGO benefitting from strong pricing for some time. The IGO share price is trading at $14.76 on Wednesday.
Megaport Ltd (ASX: MP1)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this network services company's shares with a reduced price target of $8.10. While Goldman wasn't too impressed with operational trends during the first half, it remains positive on the company. This is due to Megaport having a clear product advantage versus peers and a decade-long runway for robust growth. The Megaport share price is fetching $5.78 this afternoon.
Pointsbet Holdings Ltd (ASX: PBH)
Analysts at Bell Potter have retained their speculative buy rating but cut their price target on this sports betting company's shares to $3.50. This follows the release of a solid quarterly update earlier this week. And while Bell Potter believes that PointsBet will require a $100 million equity raising in FY 2024, it isn't putting the broker off. It appears to believe that the company's shares are a great long term option due to its very large opportunity in North America. The Pointsbet share price is trading at $1.48 on Wednesday.
