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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CSL Ltd (ASX: CSL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on the biotechnology giant's shares with a trimmed price target of $304.60. The broker believes that CSL is well positioned to navigate potential changes to its operating environment and sees policy certainty on tariffs and US government pricing as key catalysts to drive a multiple re-rate. Outside this, Goldman Sachs has trimmed its earnings forecasts slightly. However, this is due to softer Seqirus revenue expectations from lower flu vaccine sales. The CSL share price is trading at $239.75 on Wednesday afternoon.
JB Hi-Fi Ltd (ASX: JBH)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this retail giant's shares with an improved price target of $114.00. The broker has lifted its valuation for the retailer to reflect a higher target multiple. This follows a 10% to 15% re-rate in some of the high productivity global retailers which it considers as close comps for JB Hi-Fi. Outside this, the broker strongly believes that the company's trajectory is well supported by its market leadership in the technology category that continues to win a larger wallet share. It also highlights that it is one of the most productive retailers globally with a leading revenue per sqm metric and operating margin. The JB Hi-Fi share price is fetching $104.18 at the time of writing.
Xero Ltd (ASX: XRO)
Analysts at Citi have retained their buy rating on this cloud accounting platform provider's shares with an improved price target of $200.00. According to the note, the broker is expecting a strong full year result for FY 2025 from Xero this week. In fact, it suspects that the company's revenue growth could be a touch ahead of what the market is expecting. And while it notes that operating expenses are trending upwards, it isn't overly concerned by this. As a result, it remains very positive on the investment opportunity here. The Xero share price is trading at $176.24 this afternoon.
