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:
REA Group Ltd (ASX: REA)
According to a note out of Citi, its analysts have retained their buy rating and $230.00 price target on this property listings company's shares. It notes that the company has now withdrawn from its pursuit of UK peer Rightmove (LSE: RMV). Citi suspects that the market will be pleased that no deal was agreed. In addition, it believes that REA Group could pay shareholders a special dividend now that the deal is off. Though, it isn't ruling out management having another tilt at Rightmove in the future. Outside this, the broker is predicting that the realestate.com.au operator will deliver a strong trading update for the first quarter next month. The REA Group share price is trading at $208.81 at the time of writing.
Rio Tinto Ltd (ASX: RIO)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $136.60 price target on this mining giant's shares. The broker notes that Rio Tinto has held an investor tour of its low cost green aluminium smelting assets in Canada. Goldman was pleased with what it saw and remains positive on this side of the business. This is good news given that it estimates that Rio Tinto's aluminium division will represent ~20% of its earnings in 2025. Outside this, it likes Rio Tinto due to its compelling relative valuation, attractive free cash flow and dividend yield, and its strong two-year production growth from iron ore and copper. The Rio Tinto share price is fetching $125.55 on Wednesday.
Siteminder Ltd (ASX: SDR)
Another note out of Citi reveals that its analysts have retained their buy rating on this hotel technology company's shares with an improved price target of $7.20. The broker has been speaking to industry peers and believes that things are looking favourable for Siteminder. Citi notes that partners, customers, and consultants have responded positively to the launch of its Dynamic Revenue Plus product. In light of this, the broker is predicting that the company's revenue growth is about to accelerate. It estimates that its smart platform will contribute 11 percentage points of growth from its 30% revenue growth forecast in FY 2026. The Siteminder share price is trading at $6.36 today.
