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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Neuren Pharmaceuticals Ltd (ASX: NEU)
According to a note out of Bell Potter, its analysts have upgraded this biotechnology company's shares to a buy rating with an improved price target of $27.00. This follows the release of very encouraging phase 2 results for its NNZ-2591 product in Phelan-McDermid syndrome (PMS). The broker now has far greater confidence in the treatment and has materially increased its probability of success in PMS and three other indications that are similarly characterised disorders. The Neuren share price is trading at $23.32 on Wednesday.
Origin Energy Ltd (ASX: ORG)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $9.26 price target on this energy company's shares. This follows news that the company has lifted its investment in the Octopus business. While the investment will be cash flow negative in the near term, Macquarie doesn't believe Origin's dividends will suffer because of this. It has pencilled in a 62 cents per share dividend this year and next. The Origin share price is fetching $8.38 today.
Tabcorp Holdings Ltd (ASX: TAH)
Analysts at Morgan Stanley have retained their overweight rating and $1.20 price target on this gambling company's shares. This follows news that the company has been awarded the new Victorian Wagering and Betting Licence by the Victorian Government. Morgan Stanley was pleased with the news and still sees plenty of value in its shares despite a strong gain this week. The Tabcorp share price is trading at 85 cents this afternoon.
