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:
BHP Group Ltd (ASX: BHP)
According to a note out of Morgans, its analysts have upgraded this mining giant's shares to an add rating with an improved price target of $51.10. The broker made the move on the belief that iron ore has come out of a slump in great shape. It highlights that China iron ore stockpiles at port remain at healthy levels, which suggests increased iron ore imports are being consumed. All in all, the broker recommends that investors accumulate the big miner on any weakness. The BHP share price is trading at $47.37 today.
Core Lithium Ltd (ASX: CXO)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this lithium miner's shares to $1.20. This follows news that Core Lithium has made a significant increase to its mineral resource estimate for the Finniss project. Macquarie was pleased with the news and notes that there could be further increases coming thanks to its drilling campaign. The Core Lithium share price is fetching $1.03 on Wednesday.
REA Group Ltd (ASX: REA)
Analysts at Goldman Sachs have retained their conviction buy rating on this property listings company's shares with an improved price target of $164.00. Goldman notes that FY 2024's price increases are more material than expected. The broker believes this demonstrates the pricing power of the real estate classified vertical. The REA share price is trading at $141.16 today.
