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:
Credit Corp Group Ltd (ASX: CCP)
According to a note out of Morgans, its analysts have retained their buy rating on this debt collector's shares with a trimmed price target of $19.35. The broker notes that Credit Corp delivered a first-half profit result that was 10% short of expectations. It feels the selloff that ensued, which dragged its shares 17% lower, was overdone and created a buying opportunity for investors. It highlights that at just 7x estimated FY 2027 earnings, its valuation is undemanding. Especially with management reiterating its guidance for FY 2026. The Credit Corp share price is currently trading at $11.56.
Newmont Corporation (ASX: NEM)
Another note out of Morgans reveals that its analysts have upgraded this gold miner's shares to a buy rating with an improved price target of $190.00. The broker remains positive on the outlook of the gold price despite recent weakness and has upgraded its forecasts through to FY 2029. Morgans also highlights that Newmont is its favourite large cap gold miner. It likes Newmont due to its production growth, which it expects to support strong and growing cash generation for the near term. The Newmont share price is fetching $171.88 at the time of writing.
Xero Ltd (ASX: XRO)
Analysts at UBS have retained their buy rating and $174.00 price target on this cloud accounting platform provider's shares. According to the note, the broker appears pleased with Xero's investor update this week which focused on AI and its US growth opportunity. It highlights that its AI and US-based Melio payments businesses are expected to break even in FY 2028, which is ahead of its expectations. In light of this, the broker believes that the market is undervaluing the Melio business. It was also pleased to see management stress that its moat was resilient against AI disruption. Though, that hasn't stopped its shares from being sold off for that reason on Wednesday. The Xero share price is trading at $80.82 today.
