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:
Allkem Ltd (ASX: AKE)
According to a note out of Macquarie, its analysts have retained their outperform rating and $17.00 price target on this lithium miner's shares. This follows the release of a mineral resource estimate upgrade for its Olaroz operation. Macquarie was pleased with the news and remains bullish on the company's outlook. The Allkem share price is trading at $11.82.
Ingenia Communities Group (ASX: INA)
A note out of Citi reveals that its analysts have initiated coverage on this land lease and holiday park company's shares with a buy rating and $4.40 price target. Citi likes Ingenia due to its land lease exposure. This is due to its secure CPI-linked income stream, with strong medium-term growth potential from an ageing population and an attractive product versus other retirement alternatives. The Ingenia share price is fetching $3.59 this afternoon.
Liontown Resources Ltd (ASX: LTR)
Analysts at Bell Potter have retained their speculative buy rating on this lithium developer's shares with an improved price target of $3.35. This follows news that industry giant Albemarle has made a non-binding takeover offer of $2.50 per share. Bell Potter believes this speaks to the quality of Kathleen Valley and the scarcity of growth opportunities in the sector. And while its analysts believe the offer is reasonable, they don't believe it is full and support management's decision to reject it. The Liontown share price is trading at $2.61 today.
