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:
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Beach Energy Ltd (ASX: BPT)
According to a note out of Bell Potter, its analysts have retained their buy rating on this energy producer's shares with an improved price target of $1.50. This follows the release of a strong quarterly update which saw production, sales volumes, and revenue all comfortably beat the broker's expectations. It notes that this was driven by its Otway Basin wells. Looking ahead, Bell Potter is feeling very positive about the company's outlook. Particularly now that capital expenditure is trending lower, which will be supportive of free cash flow growth. And with a positive view on Australian east coast gas and LNG markets, the broker feels that now is a good time to own this energy producer's shares. The Beach Energy share price is trading at $1.31 on Wednesday.
CSL Ltd (ASX: CSL)
A note out of Morgans revealed that its analysts have retained their add rating and $330.75 price target on this biotechnology company's shares. This follows the release of the company's research and development (R&D) update. Morgans highlights that there were a number of positives and negatives from the event. The latter includes garadacimab's potential US approval being pushed back by at least six months. Outside this, the broker remains positive and believes that the CSL Behring business will drive solid growth in the coming years. In light of this, it sees value in the biotechnology company's shares right now. The CSL share price is fetching $293.34 at the time of writing.
REA Group Ltd (ASX: REA)
Analysts at Goldman Sachs have retained their buy rating on this property listings company's shares with an improved price target of $245.00. According to the note, the broker has been looking at recent high frequency datapoints to judge how things are going for leading classifieds companies in FY 2025. The good news is that Goldman views recent datapoints as broadly positive for REA Group. It notes that the company has started the year strongly, with listing volumes up 7%. This compares to the broker's forecasting for flat FY 2025 listings. Overall, it believes that REA is among the highest-quality names in its coverage and is urging investors buy its shares today. The REA Group share price is trading at $227.23.
