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:
CSL Limited (ASX: CSL)
According to a note out of UBS, its analysts have initiated coverage on this biotherapeutics giant's shares with a buy rating and $330.00 price target. The broker believes that CSL is well-placed to benefit from tailwinds across all its businesses. Combined with some potentially lucrative treatments under development, UBS suspects the company could outperform consensus expectations. The CSL share price is trading at $306.62 this afternoon.
Qantas Airways Limited (ASX: QAN)
A note out of Goldman Sachs reveals that its analysts have retained their conviction buy rating on this airline operator's shares with an improved price target of $8.50. It was pleased with Qantas' higher than expected FY 2023 profit guidance and has upgraded its earnings estimates accordingly. And while Goldman acknowledges broader macro uncertainty, it still believes the current share price does not reflect the company's improved earnings capacity. The Qantas share price is fetching $6.43 today.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating on this wine company's shares with a trimmed price target of $14.50. Although the broker concedes that trading conditions are tough and has downgraded its earnings estimates to reflect this, it believes this is already priced into its shares. As a result, Goldman sees its current valuation as attractive. The Treasury Wine share price is trading at $12.85 on Wednesday.
