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:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $334 price target on this biotherapeutics giant's shares. The broker has been looking at industry data, as well as its own in-house research, and was pleased with what it showed. Morgan Stanley highlights that plasma volumes continue to grow, which bodes well for the company. The CSL share price is trading at $266.62 today.
Graincorp Ltd (ASX: GNC)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $9.55 price target on this grain exporter's shares. Its analysts note that the December 2023 ABARES crop report highlights an east coast winter crop forecast of 21.7mt. This is an upgrade to the September 2023 crop forecast. In light of this, and with its shares trading at levels consistent with the previous cyclical low, the broker believes its valuation is undemanding. The Graincorp share price is fetching $7.49 on Wednesday.
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. Citi points out that the UK government has reiterated its timelines for the Make Tax Digital initiative. It believes this will be a big positive for Xero's subscriber growth in the UK market. So much so, it sees potential upside risk to consensus subs forecasts in FY 2026 and FY 2027. The Xero share price is trading at $103.42 this afternoon.
