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:
Image source: Getty Images
Core Lithium Ltd (ASX: CXO)
According to a note out of Macquarie, its analysts have retained their outperform rating on this lithium miner's shares with an improved price target of $1.50. This follows news that the company's drilling activities have led to the more than doubling of the Finniss Lithium Project mineral resource estimate. The Core Lithium share price is trading at 96.7 cents this afternoon.
Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating and $27.00 price target on this medical device company's shares. Fisher & Paykel Healthcare remains Goldman's top pick in the healthcare sector. The broker believes the company is now on the correct side of an earnings inflection cycle. This is being driven predominantly by demand, but importantly compounded by a lower-risk margin recovery profile. The Fisher & Paykel Healthcare share price is fetching $24.31 today.
IGO Ltd (ASX: IGO)
Analysts at Citi have retained their buy rating and $17.10 price target on this battery materials miner's shares. Although the broker suspects that lithium shares could struggle in the near term due to lithium price weakness, it remains positive on IGO due partly to its attractive valuation. In addition, the broker believes that lithium prices could rebound when industry restocking picks up in the coming months. The IGO share price is trading at $13.38 on Wednesday.
