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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Coles Group Ltd (ASX: COL)
According to a note out of Bell Potter, its analysts have upgraded this supermarket giant's shares to a buy rating with an improved price target of $24.30. This follows the release of a strong result for FY 2025, with revenue and earnings ahead of the broker's expectations. Bell Potter was also pleased with the continued delivery against Simplify & Save initiatives. It notes that $565 million has been delivered to date versus a target of $1 billion by FY 2027. The broker also takes a positive view on Coles due to its ADC/CFC investments and the strengthening consumer backdrop. The Coles share price ended the day at $23.38.
Polynovo Ltd (ASX: PNV)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this medical device company's shares with a trimmed price target of $2.00. Macquarie was pleased with the company's performance in FY 2025, highlighting its strong sales growth in both the US and Rest of the World segments. It was also pleased to see that MTX sales are accelerating and that its underlying profit was well ahead of expectations. Looking ahead, Macquarie sees several near-term positive catalysts, with a significant longer-term opportunity in additional indications. The Polynovo share price was fetching $1.35 at Wednesday's close.
Web Travel Group Ltd (ASX: WEB)
Another note out of Macquarie reveals that its analysts have retained their outperform rating on this travel technology company's shares with an improved price target of $6.74. This follows the release of its annual general meeting update. Macquarie was pleased to see that its half year total transaction value guidance of $3.1 billion was in-line with expectations. And while there is weakness in the MEA segment (which accounts for 10% of TTV), it is confident that this will be offset by growth in other regions. And with its long-term targets unchanged, Macquarie is increasingly confident in Web Travel achieving them. Particularly now that visibility concerning medium-term revenue and UEBITDA margins has improved. It also believes that the company should outperform other ASX travel peers in volatile macro conditions. The Web Travel share price was trading at $4.35 today.
