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:
ARB Corporation Ltd (ASX: ARB)
According to a note out of Citi, its analysts have retained their buy rating on this automotive parts company's shares with an improved price target of $44.90. This follows the release of a strong half-year result from ARB earlier this week. Citi also sees upside risk to its estimates from the company's partnership with auto giant Ford. The ARB share price is trading at $38.91 on Wednesday.
BHP Group Ltd (ASX: BHP)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $49.40 price target on this mining giant's shares. Goldman was pleased with BHP's half-year result, noting that it was broadly in-line with expectations. Outside this, the broker remains positive on the future and sees the miner's valuation as attractive at current levels. The BHP share price is fetching $44.20 this afternoon.
Megaport Ltd (ASX: MP1)
Analysts at Macquarie have retained their outperform rating on this network solutions company's shares with an improved price target of $15.90. This follows the release of Megaport's half-year results this week. Although the result was largely pre-released, Macquarie was pleased with the finer details and has boosted its earnings estimates to reflect an acceleration in momentum. The Megaport share price is trading at $13.20 today.
