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:
Catapult Group International Ltd (ASX: CAT)
According to a note out of Bell Potter, its analysts have retained their buy rating and $1.35 price target on this sports technology company's shares. The broker was pleased with the company's performance in the first half, noting that its result was ahead of expectations thanks to stronger margins. The Catapult share price is trading at $1.12 on Wednesday.
Telstra Group Ltd (ASX: TLS)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this telco giant's shares with an improved price target of $4.34. This follows the release of the company's investor day update which revealed that it has reaffirmed its guidance for FY 2024. In addition, Macquarie has boosted its long-term growth rate assumption to reflect higher mobile plan prices. The Telstra share price is fetching $3.83 today.
Xero Limited (ASX: XRO)
Analysts at Citi have retained their buy rating and $129.40 price target on this cloud accounting platform provider's shares. Following a sell side briefing, the broker believes there is an upside risk to consensus average revenue per user (ARPU) forecasts if Xero is able to deliver ARPU growth from a mix shift. In addition, Citi continues to see Xero's opex guidance as conservative when considering one-offs and lower employee spend in the second half. The Xero share price was trading at $101.95 today.
