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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BHP Group Ltd (ASX: BHP)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $48.00 price target on this mining giant's shares. This follows the release of a solid quarterly update from the Big Australian and the reiteration of its guidance for FY 2026. Morgan Stanley was pleased with BHP's update and particularly the performance of its copper assets. It notes that the latter and its metallurgical coal operations were able to offset weakness from its iron ore operations. The BHP share price is trading at $43.22 on Wednesday afternoon.
Generation Development Group Ltd (ASX: GDG)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this bonds and annuities company's shares with an improved price target of $8.40. This follows the release of Generation Development Group's first quarter update. Bell Potter notes that the company delivered a strong quarter with an encouraging early read that looks to answer the concerns around Evidentia. It was also pleased to see strong demand for Lonsec out-of-cycle ratings has continued, providing near-term tailwinds in that business and helping margins. In light of the above, the broker has lifted its earnings estimates and valuation slightly. The Generation Development Group share price is fetching $7.26 at the time of writing.
Hub24 Ltd (ASX: HUB)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this investment platform provider's shares with an increased price target of $135.00. Bell Potter notes that Hub24 revealed a strong first quarter update this week with platform net inflows better than expected and market movements providing more uplift than forecast. And while its shares have rallied strongly over the past 12 months, the broker feels that the market is still undervaluing them. It highlights that it thinks there is underappreciation of the expanded growth runway, with an appetite to allocate more advised clients and capital on platform. It also sees upside risk to FY 2027 estimates. The Hub24 share price is trading at $115.47 on Wednesday.
