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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Collins Foods Ltd (ASX: CKF)
According to a note out of Morgans, its analysts have retained their add rating and $10.50 price target on this KFC restaurant operator's shares. This follows the release of the company's half year results this week, which were slightly ahead of its expectations. And while the broker concedes that Collins Foods' outlook commentary was a touch disappointing and softer than it was expecting, it has seen enough to remain positive on the stock. Particularly given its strong cash generation and improving same store sales from the key KFC Australia business. The Collins Foods share price is trading at $8.28 today.
Northern Star Resources Ltd (ASX: NST)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $19.55 price target on this gold miner's shares. This follows the announcement of an agreement to acquire gold developer De Grey Mining Limited (ASX: DEG) in a $5 billion deal. Bell Potter notes that while Northern Star increases its risk profile in the short term with this deal, it sees longer term benefits. Particularly given that without the acquisition, the broker believes that after reaching 2Moz in FY 2027, Northern Star's group gold production would start to decline as existing ore reserves are consumed. It also highlights the low forecast all-in sustaining cost base of De Grey Mining's Hemi deposit as a reason to be positive on the deal. The Northern Star share price is fetching $16.01 on Wednesday.
WiseTech Global Ltd (ASX: WTC)
Analysts at Macquarie have retained their outperform rating and $152.70 price target on this logistics solutions technology company's shares. The broker was pleased with what it saw at the company's investor day event this week. Macquarie highlights that while the short term delay of a key product launch was disappointing, this doesn't change anything on a longer term view. The broker notes that the quality of its products is very high and is expected to drive strong growth in the future. Especially with its founder CEO, Richard White, stepping back into a role that allows him to focus almost entirely on developing products to cover all parts of the value chain. The WiseTech Global share price is trading at $130.44 this afternoon.
