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 Macquarie, its analysts have retained their outperform rating on this biotechnology company's shares with a reduced price target of $295.90. Macquarie notes that CSL delivered a full year result that was short of expectations in FY 2025 due to the underperformance of the key CSL Behring business. However, it believes the selloff has been an overreaction. And even after reducing its earnings estimates, it believes this leaves the company's shares trading on an undemanding valuation (trading at P/E ~20x with ~10% EPS growth). As a result, it thinks investors should be buying the dip. The CSL share price ended the day at $220.74.
HMC Capital Ltd (ASX: HMC)
A note out of Morgans reveals that its analysts have upgraded this investment company's shares to a buy rating with a $4.20 price target. The broker made the move on valuation grounds, highlighting that recent share price weakness has dragged its shares below book value. It estimates that the current share price was implying that HMC Capital was ex-growth, which it does not believe to be the case. It also thinks that settling the Healthscope negotiations, getting its data centre investments back on track with a material contract, and the de-gearing of the Energy Transition Fund would restore investor faith and help re-rate its shares. The good news is that it thinks this is achievable over the next 12 months. The HMC Capital was fetching $3.85 at Wednesday's close.
Hub24 Ltd (ASX: HUB)
Analysts at Bell Potter have retained their buy rating on this investment platform provider's shares with an improved price target of $125.00. According to the note, the broker was pleased with another strong performance from Hub24 in FY 2025. It expects this trend to continue and believes that Hub24 is on-track to meet its FY 2026 Platform FUA target of $123 billion to $135 billion. This is expected to underpin earnings per share growth of 28% this year. The broker then sees a clear pathway to $148 billion to $162 billion in FY 2027 based on the strong acceleration in net flows from new licensee and adviser relationships. The Hub24 share price ended the week at $104.84.
