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:
Perpetual Ltd (ASX: PPT)
According to a note out of Bell Potter, its analysts have retained their buy rating and $24.76 price target on this financial services company's shares. This follows a disappointing ruling from the ATO in relation to the tax liability for the proposed sale of its Corporate Trust (CT) and Wealth Management (WM) businesses to KKR. With the tax liability estimated to be $488 million, which is significantly more than expected, the broker feels that the transaction is probably now dead. Nevertheless, Bell Potter remains positive and had previously suggested that holding onto the businesses might not be a bad outcome. Especially given recent movements in equity markets mean they could be worth more now. The Perpetual share price is trading at $19.83 on Wednesday.
Pilbara Minerals Ltd (ASX: PLS)
Another note out of Bell Potter reveals that its analysts have upgraded this lithium miner's shares to a buy rating with a $2.95 price target. The broker made the move largely on valuation ground following a sharp pullback in recent weeks. In addition, it thinks that now could be a good time to invest given how short interest is falling and the outlook for lithium is improving. In respect to the latter, the broker believes that there could be lithium shortfalls from 2026, which will boost prices. And with Pilbara Minerals having a strong balance sheet, it feels it is well-placed to respond to any shortfalls. The Pilbara Minerals share price is fetching $2.26 at the time of writing.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Citi have retained their buy rating and $12.97 price target on this wine giant's shares. According to the note, the broker has been looking at the company's operations in China and is feeling positive. Particularly given this week's acquisition of the Ningxia Stone & Moon Winery, which it plans to evolve into the home of Penfolds in China. The broker sees this acquisition as a positive step forward in the lucrative market, noting that it will improve government relations, reduce the risk of tariffs, and support long-term market access. The Treasury Wine share price is trading at $11.76 today.
