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:
Elders Ltd (ASX: ELD)
According to a note out of Bell Potter, its analysts have retained their buy rating on this agribusiness company's shares with an improved price target of $9.45. The broker highlights that Elders will be cycling soft year on year comparisons in core livestock markets through the next two quarters. It also faces the prospect of more normal summer cropping demand levels in the first half of 2025 without material headwinds in crop protection and fertiliser prices. In light of this, the broker believes that if seasonal conditions hold through FY 2025, it should lead to a stronger profit outcome. The Elders share price is trading at $8.62 on Wednesday afternoon.
Goodman Group (ASX: GMG)
A note out of Citi reveals that its analysts have retained their buy rating and $40.00 price target on this industrial property company's shares. This follows reports that the company has completed the construction of another part of its Tsuen Wan West data centre campus in Hong Kong. This building was previously a textile factory which it bought a decade ago and has now turned into a data centre campus. Citi is very positive on the potential of its data centre developments and believes they will help drive strong earnings growth this year. The broker is forecasting earnings per share growth of almost 13%, which is ahead of Goodman's guidance of 9% growth. The Goodman share price is fetching $36.32 at the time of writing.
Web Travel Group Ltd (ASX: WEB)
Analysts at Goldman Sachs have reinstated coverage on this hotel technology company's shares with a buy rating and $8.20 price target. The broker is feeling very bullish about its WebBeds business and believes it could deliver a ~15% total transaction value (TTV) compound annual growth rate. This would take TTV from an estimated $5 billion in FY 2025 to $10 billion in FY 2030. It expects this to be driven by a combination of higher mix from faster growing APAC/US regions and higher traffic conversion. In light of this strong growth outlook, Goldman believes its shares are great value at current levels. The Web Travel Group share price is trading at $6.93 today.
