Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Cochlear Limited (ASX: COH)
According to a note out of Credit Suisse, its analysts have upgraded this hearing solutions company’s shares to an outperform rating with a $235.00 price target. The broker made the move on valuation grounds after its shares pulled back to a more attractive level. Credit Suisse is positive on its outlook and believes the company has been winning market share over the last few years. The Cochlear share price was trading at $191.50 at Tuesday’s close.
Goodman Group (ASX: GMG)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this industrial property company’s shares to $26.63. Macquarie has been looking at the property sector and remains positive on Goodman. In fact, it believes the company could upgrade its FY 2022 guidance when it releases its half year results next month. The Goodman share price was fetching $22.88 at yesterday’s close.
ResMed Inc. (ASX: RMD)
Analysts at Ord Minnett have upgraded this sleep treatment company’s shares to a buy rating with an improved price target of $37.90. According to the note, the broker believes ResMed is well-placed to deliver another strong result in FY 2022. This is due to the company taking advantage of the Philips CPAP product recall. And even when Philips has completed the recall and replacement of 5.2 million devices, the broker believes ResMed has the potential to hold onto its increased market share. The ResMed share price was last trading at $32.66.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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