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:
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Macquarie Group Ltd (ASX: MQG)
A note out of Morgans reveals that its analysts have retained their add rating on this investment bank's shares and lifted their price target on them to $214.50. This follows a third quarter update which was well ahead of expectations. Morgans was expecting financial year to date earnings to be down 6% on the prior corresponding period, but they were up slightly. This was driven by an exceptional performance from the Commodities and Global Markets business and has led to Morgans bumping its full year earnings estimates by 4%. The Macquarie share price is trading at $195.57 this afternoon.
Qualitas Ltd (ASX: QAL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this investment company's shares to $3.90. The broker has also added Qualitas to its coveted conviction list. Goldman made the move on the back of its positive view on the opportunities for the company to deploy funds under management and grow earnings over the coming years. The Qualitas share price is fetching $2.86 on Wednesday.
Transurban Group (ASX: TCL)
Analysts at Citi have reiterated their buy rating on this toll road operator's shares with a $16.00 price target. Although the broker notes that Transurban's half year result was boosted by one-off factors, it was still pleased and remains positive on the future. Particularly given that CPI-linked increases come through with a delay, which it feels indicates a strong growth path ahead. So much so, Citi is forecasting a ~6% p.a. dividends per share CAGR from FY23 to FY26. The Transurban share price is trading at $14.03 today.
