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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Collins Foods Ltd (ASX: CKF)
According to a note out of Morgans, its analysts have retained their add rating on this KFC restaurant operator's shares and lifted their price target to $10.50. This follows the release of its full-year results, which came in ahead of expectations. Morgans was also pleased with its better-than-expected outlook for FY 2024. The Collins Foods share price was trading at $9.94 on Wednesday.
Elders Ltd (ASX: ELD)
A note out of Bell Potter reveals that its analysts have upgraded this agribusiness company's shares to a buy rating with a $7.25 price target. The broker made the move on valuation grounds, highlighting that its shares are trading at ~6 times Normalised EBITDA, which is a reasonably large discount to its post-recapitalisation average. As a result, it sees its share price as now representing value through the cycle. The Elders share price was fetching $6.63 today.
TechnologyOne Ltd (ASX: TNE)
Analysts at Goldman Sachs have upgraded this enterprise software provider's shares to a buy rating with an $18.30 price target. The broker believes that TechnologyOne's shares are good value at the current level. Particularly given how its dominant market position, defensive end markets, and mission-critical systems are deserving of a premium valuation. The TechnologyOne share price was trading at $15.44 this afternoon.
