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:
Breville Group Ltd (ASX: BRG)
According to a note out of Macquarie, its analysts have retained their outperform rating and $41.10 price target on this appliance manufacturer's shares. The broker has been impressed with the company's performance in recent years, highlighting that it has continued outperform thanks to its global expansion, product development, and material exposure to the at-home coffee market. While there is potential for Breville to be impacted by US trade tariffs, Macquarie hasn't made any changes to its earnings estimates and remains very positive on its long term outlook. The Breville share price is trading at $32.04 on Wednesday.
Gold Road Resources Ltd (ASX: GOR)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this gold miner's shares with an improved price target of $3.20. This follows news that Gold Road has received a takeover offer from NYSE-listed Gold Fields. The broker suspects that the first offer is unlikely to be the best offer, and that Gold Fields' actions might force Gold Road back to the negotiating table. It also feels that the gold miner's last closing share price implies that the market is not convinced that a transaction is likely. As a result, it points out that it leaves a return for investors with more optimism. The Gold Road share price is fetching $2.84 at the time of writing.
Pro Medicus Limited (ASX: PME)
Analysts at Morgans have upgraded this health imaging technology company's shares to an add rating with a $250.00 price target. According to the note, the broker made the move largely on valuation grounds following a sharp pullback in its share price. Outside this, it highlights its impressive run of major contract wins, amounting to almost $500 million in just the last seven months. This is more than the total that Pro Medicus recorded in the three previous years. In light of this, Morgans believes the company can deliver earnings growth ahead of the market's expectations. As a result, it feels that its shares are good value at current levels and that recent weakness has created an attractive entry point for investors. The Pro Medicus share price is trading at $225.43 on Wednesday.
