Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

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Many of Australia's top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.

Three ASX shares that brokers have named as buys this week are listed below. Here's why their analysts are feeling bullish on them right now:

Breville Group Ltd (ASX: BRG)

According to a note out of Macquarie, its analysts have upgraded this appliance manufacturer's shares to an outperform rating with an improved price target of $28.60. The broker was impressed with what the company had to say at its recent investor conference. This is particularly the case with its distribution expansion opportunity. Macquarie highlights that there are a number of countries that it is distributing to indirectly but could change to direct distribution and boost its earnings. With that in mind, the broker has lifted its earnings estimates for the near term. The Breville share price is trading at $26.66 this afternoon.

James Hardie Industries plc (ASX: JHX)

Another note out of the Macquarie equities desk reveals that its analysts have upgraded this building materials company's shares to an outperform rating with a reduced price target of $55.00. Macquarie acknowledges that James Hardie's fourth-quarter update and guidance for FY 2025 was notably weaker than expectations. And while this is understandably disappointing, it believes the selloff of its shares was severely overdone. Particularly given its belief that the company's competitive position is not weakening. In light of this, the broker believes that investors should be taking advantage of the selloff by snapping up shares while they are down in the dumps. The James Hardie share price is trading at $47.22 at the time of writing.

Telstra Group Ltd (ASX: TLS)

Analysts at Goldman Sachs have retained their buy rating on this telco giant's shares with a reduced price target of $4.25. According to the note, the broker was a touch disappointed with Telstra's guidance for FY 2025. Its analysts note that Telstra's underlying EBITDA guidance of $8.4 billion to $8.7 billion was below expectations. It was also not a fan of management's decision to scrap its inflation-linked price increases. However, even after reducing its earnings and dividend estimates to reflect the above, it still sees plenty of value in the telco's shares at current levels. As a result, it has reaffirmed its buy rating today. The Telstra share price is trading at $3.45 on Wednesday afternoon.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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