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:
Coles Group Ltd (ASX: COL)
According to a note out of Citi, its analysts have retained their buy rating and $19.30 price target on this supermarket giant’s shares. This follows the announcement of the federal budget, which Citi expects to be a boost to disposable income. The broker expects supermarkets to be among the biggest winners from this. The Coles share price is trading at $17.62 on Wednesday afternoon.
EML Payments Ltd (ASX: EML)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this payments company’s shares to $3.95. Macquarie believes that EML Payments will benefit from rising interest rates due to having several billion dollars of client funds stored across its platform. This is expected to be a big boost to interest income in the coming years. The EML Payments share price is fetching $2.95 today.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Citi reveals that its analysts have retained their buy rating and $13.78 price target on this wine giant’s shares. This follows a virtual analyst event with Treasury Premium Brands’ management team. Citi came away from the event confident that Treasury Wine has significant medium term earnings growth opportunities. This is underpinned by the re-opening of higher margin channels, a long runway of distribution growth, and margin expansion driven by premiumisation and supply chain savings. The Treasury Wine share price is trading at $11.80 on Wednesday.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Budget fuel excise cut: Which ASX shares could benefit?
- Top broker gives its verdict on the Coles (ASX:COL) share price
- Is the EML (ASX:EML) share price on the comeback trail?
- Could these ASX shares get a boost from tonight’s federal budget?
- Broker names 2 ASX 200 shares to buy with almost 20% upside
Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 EML Payments. The Motley Fool Australia owns and has recommended COLESGROUP DEF SET and EML Payments. The Motley Fool Australia has recommended Macquarie Group Limited and Treasury Wine Estates Limited. 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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