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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Hub24 Ltd (ASX: HUB)
According to a note out of Bell Potter, its analysts have retained their buy rating on this investment platform provider's shares with an improved price target of $115.00. This follows the release of a quarterly update which revealed that platform net flows came in at $5.3 billion. This was ahead of Bell Potter's expectations for an increase of $4.8 billion. The broker was also pleased to see that Hub24 continues to grow its market share. It believes that this highlights the strength and validation of its leading technology. The Hub24 share price is trading at $98.73 on Wednesday afternoon.
Iluka Resources Ltd (ASX: ILU)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $6.50 price target on this mineral sands and rare earths company's shares. Macquarie believes that the establishment of the first ex-China NdPr price floor marks a milestone for the rare earths elements (REE) market. It also notes that the deal with the US government and MP Materials (NYSE: MP) is a positive indicator for Iluka and reinforces its strategy of securing higher prices through bilateral offtake agreements. It suspects that it could lead to the market reducing the value discount on Eneabba phase three project despite its complexity. The Iluka share price is fetching $4.95 at the time of writing.
Paladin Energy Ltd (ASX: PDN)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this uranium producer's shares with an improved price target of $9.20. Bell Potter believes that Paladin Energy shares will re-rate over the coming quarters as the business shakes off negative earnings sentiment over FY 2025. In addition, it highlights that coming out of the fourth quarter result, the market should have a better understanding of mining rates, ore performance, and sales contracts. When combined with a reshuffle in its leadership, it thinks this should provide positive sentiment heading into FY 2026. The Paladin Energy share price is trading at $7.80 on Wednesday.
