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:
Altium Limited (ASX: ALU)
According to a note out of Citi, its analysts have upgraded this electronic design company's shares to a buy rating with an improved price target of $56.60. The broker is feeling very positive about the company's outlook thanks to the Altium365 cloud platform. It believes the platform can increase Altium's addressable market materially outside its existing user base. In addition, the broker sees artificial intelligence tailwinds that could boost revenue. The Altium share price is trading at $49.66 today.
Jumbo Interactive Ltd (ASX: JIN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $19.20 price target on this digital lottery ticket seller's shares. The broker believes that Jumbo will benefit greatly from recent Powerball jackpots. In addition, Morgan Stanley is tipping Jumbo as a company that could surprise to the upside during earnings season. The Jumbo share price is fetching $15.71 on Thursday.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have retained their conviction buy rating on this supermarket giant's shares with a trimmed price target of $42.30. While the broker was disappointed with the company's performance in New Zealand, it was pleased with a stronger than expected first half from its key Australian Food business. And with its shares still trading on earnings multiples lower than their five-year average, the broker sees it as a great time to buy. The Woolworths share price is trading at $36.01 this morning.
