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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Computershare Ltd (ASX: CPU)
According to a note out of Citi, its analysts have upgraded this share registry company's shares to a buy rating with a trimmed price target of $39.60. The broker believes that recent share price weakness means that the risk is now skewed to the upside for investors. Especially given its belief that increased mergers and acquisitions, initial public offerings, and debt issuance activity could offset softer margin income. And while it has trimmed its earnings per share forecasts to reflect interest rate cuts, it sees plenty of value on offer with its shares at current levels. The Computershare share price is trading at $34.40 on Wednesday afternoon.
EBR Systems Inc (ASX: EBR)
A note out of Morgans reveals that its analysts have retained their buy rating on this medical device company's shares with an improved price target of $2.95. Morgans highlights that EBR Systems delivered a clear step-up in commercial execution during the fourth quarter. This includes volumes doubling quarter on quarter and revenue coming in materially ahead of expectations. It believes this confirms an accelerating physician uptake. In addition, the broker views clinical momentum with the WiSE-UP post-approval study and the TLC-AU feasibility study as supporting longer-term adoption and label expansion. So much so, its updated total addressable market has increased by 60% to US$5.8 billion, giving the company a materially larger opportunity. This is being underpinned by growth in leadless pacing and de novo CRT applications. The EBR Systems share price is fetching $1.11 at the time of writing.
Mineral Resources Ltd (ASX: MIN)
Analysts at Bell Potter have retained their buy rating on this mining and mining services company's shares with an increased price target of $68.00. Looking ahead to its quarterly update, the broker is expecting a small decline in iron ore production, slightly higher costs, and steady lithium production. However, due to significantly better than expected commodity prices, the broker has boosted its earnings estimates and valuation materially. In addition, it highlights that Mineral Resources is positioned to benefit from a recovery in lithium markets, with around 338ktpa of offline spodumene production capacity. The Mineral Resources share price is trading at $60.44 today.
