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:
Adore Beauty Group Ltd (ASX: ABY)
According to a note out of Citi, its analysts have retained their buy rating and $1.25 price target on this online beauty retailer's shares. This follows news that the company has received and rejected a takeover approach from a UK rival. Citi suspects that an offer of $1.86 per share might be enough to get a deal over the line. The Adore Beauty share price is trading at $1.15 on Wednesday.
Collins Foods Ltd (ASX: CKF)
A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this quick service restaurant operator's shares to $12.40. Morgans was very pleased with the company's half-year results, noting its profit growth was stronger than expected. It was also pleased that price increases didn't impact demand in its KFC restaurants, which it feels highlights the strength of the brand. The Collins Foods share price is fetching $11.28 this afternoon.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs have retained their buy rating on this insurance giant's shares with an improved price target of $18.34. This follows the release of a solid third-quarter update earlier this week. Goldman was pleased with the update and believes that its strong form can continue. Particularly given how QBE's achieved rate increases continue to be very strong. The QBE share price is trading at $15.21 today.