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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IDP Education Ltd (ASX: IEL)
According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this language testing and student placement company's shares with a trimmed price target of $27.60. The broker highlights that news flow may continue to be choppy in the near term due to visa changes. However, it believes investors should look beyond this and focus on the company's fundamental quality and structural growth drivers. The IDP Education share price is trading at $20.50 today.
ResMed Inc. (ASX: RMD)
A note out of Citi reveals that its analysts have retained their buy rating and $29.00 price target on the sleep treatment company's shares. The broker is feeling confident ahead of the release of ResMed's second quarter update later this month. It expects strong growth across devices, masks, and software despite the emergence of GLP-1 drugs like Ozempic. The ResMed share price is fetching $25.96 on Wednesday.
Rio Tinto Ltd (ASX: RIO)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating on this mining giant's shares with a slightly trimmed price target of $140.50. This follows the release of a fourth quarter update that was broadly in-line and helped take its full year iron ore shipments towards the top end of guidance. Outside this, the broker continues to believe that Rio Tinto's shares are attractively priced in comparison to peers. The Rio Tinto share price is trading at $128.17 this morning.
