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:
Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of Citi, its analysts have retained their buy rating and $24.15 price target on this travel agent's shares. It highlights that there has been some industry consolidation in the United States with AMEX GBT acquiring business travel solutions provider CWT for US$570 million on a cash-free, debt-free basis. The broker feels this is a positive for Flight Centre as it reduces the number of competitors in the market. In addition, it sees potential for some forced divestments to get the deal over the line. This could provide Flight Centre with an opportunity to add to its portfolio. The Flight Centre share price is trading at $21.45 today.
Monadelphous Group Ltd (ASX: MND)
A note out of Bell Potter reveals that its analysts have initiated coverage on this engineering company's shares with a buy rating and $15.40 price target. The broker believes that Monadelphous' short-and-medium-term outlooks are supported by a growing pipeline of committed developments across the energy, lithium and rare earths sectors. In addition, it sees opportunities for the company to benefit from a growing renewable energy investment pipeline. The Monadelphous share price is fetching $13.98 this afternoon.
Premier Investments Limited (ASX: PMV)
Analysts at Morgan Stanley have retained their overweight rating on this retail giant's shares with an improved price target of $38.00. This follows the release of a half-year result which revealed earnings comfortably ahead of guidance. The broker was also pleased to see the company planning to divest its Smiggle and Peter Alexander businesses in 2025. Overall, Morgan Stanley continues to see Premier Investments as its top pick in the industry. The Premier Investments share price is trading at $30.87 on Wednesday.
