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:
Delta Lithium Ltd (ASX: DLI)
According to a note out of Bell Potter, its analysts have retained their speculative buy rating and $1.35 price target on this lithium developer's shares. This follows news that the company has appointed Mineral Resources Ltd (ASX: MIN) founder and CEO Chris Ellison as its new chair. Mineral Resources has also boosted its stake to 17.44%. Bell Potter was pleased with the news and feels it will help project development. In addition, the broker isn't ruling out a full takeover in the future. The Delta Lithium share price is trading at 77.2 cents today.
Premier Investments Limited (ASX: PMV)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this retail conglomerate's shares with an increased price target of $32.25. Morgan Stanley believes that the Smiggle and Peter Alexander owner could outperform the market's earnings expectations in FY 2024. The broker also supports the company's decision to undertake a strategic review. The Premier share price is fetching $25.30 on Wednesday.
Sims Ltd (ASX: SGM)
Analysts at Goldman Sachs have retained their buy rating on this scrap metal company's shares with a reduced price target of $15.70. Although Goldman was disappointed with Sims' market update and has downgraded its estimates to reflect the tough trading conditions, it retains its buy rating. This is due to its supportive valuation at 0.7 times net asset value and positive long-term industry trends. The Sims share price is trading at $13.79 this afternoon.
