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:
Image source: Getty Images
Hub24 Ltd (ASX: HUB)
According to a note out of Bell Potter, its analysts have retained their buy rating on this investment platform provider's shares with an improved price target of $73.00. This follows the release of a first quarter update which revealed funds under administration (FUA) of $113 billion. This comprises Platform FUA of $91.6 billion and PARS FUA of $21.4 billion. Bell Potter notes that Hub24's fund flows were ahead of its forecasts. And with management providing a positive outlook on its business pipeline and its shares trading at a discount to industry peer Netwealth Group Ltd (ASX: NWL), the broker feels that investors should be investing in this rapidly growing company today. The Hub24 share price is trading at $66.34 today.
Seek Ltd (ASX: SEK)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this job listings giant's shares with an improved price target of $28.00. This follows news that the company has tabled a $45 million non-binding offer for human resources and recruitment technology company Xref Ltd (ASX: XF1). Macquarie believes that this acquisition could be a good fit for Seek and allow it to charge higher prices for its offering. Particularly given its belief that adding the reference-checking technology to its platform could enhance the trust that Seek enjoys among customers. The Seek share price is fetching $24.84 on Wednesday.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Goldman Sachs have retained their buy rating and $15.20 price target on this wine giant's shares. This follows the release of US wine sales data that wasn't overly favourable for Treasury Wine. It notes that available data showed that its recently acquired DAOU business saw sales drop 6% versus a 2% decline by the market. Nevertheless, Goldman believes that trading is in-line with expectations overall for Treasury Wine and remains comfortable with its current financial forecasts. In light of this, it believes the company's shares are significantly undervalued and big returns could be on the cards for investors. The Treasury Wine share price is trading at $11.69 at the time of writing.
