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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Computershare Ltd (ASX: CPU)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this administration services company's shares to $28.93. This follows news that Computershare has agreed to sell its US Mortgage Services Business for US$720 million. The broker was pleased with the news and the reasonable sale price it has received. Morgans thinks the returned capital will be better deployed in a more value-accretive way elsewhere. The Computershare share price is trading at $25.76 today.
CSL Limited (ASX: CSL)
A note out of Macquarie reveals that its analysts have retained their outperform rating but trimmed their price target on this biotherapeutics giant's shares to $321. The broker has been looking at CSL's R&D pipeline and highlights the potential of the CSL112 product. It notes that the landmark AEGIS-II study investigating CSL112 in the prevention of a major adverse cardiovascular event is due to deliver results early next year. It suspects that a good result could give CSL's shares a major boost given its $30 per share valuation of CSL112. The CSL share price is fetching $247.88 on Wednesday.
Wesfarmers Ltd (ASX: WES)
Another note out of Macquarie reveals that its analysts have retained their outperform rating on this conglomerate's shares with an improved price target of $57.00. Macquarie has been looking at Wesfarmers' key Bunnings business and sees an opportunity for a major sales boost if it can win more mid-week trade customer spend. The Wesfarmers share price is trading at $52.15.
