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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Bell Potter, its analysts have retained their buy rating and $6.60 price target on this infant formula company’s shares. Bell Potter has been looking at industry data and believes it supports its positive view on the company. The broker also highlights that weakness in the New Zealand dollar is creating a tailwind given the majority of sales occur in AUD, USD and CNY. The A2 Milk share price is trading at $5.45 this afternoon.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
A note out of Morgans reveals that its analysts have retained their add rating on this coal export terminal operator’s shares to $2.67. This follows news that the company has agreed a new Terminal Infrastructure Charge (TIC) with its customers. The new TIC is notably higher than previous levels, which has led to Morgans boosting its earnings and dividend estimates materially. The Dalrymple Bay Infrastructure share price is fetching $2.32 on Wednesday.
Rio Tinto Limited (ASX: RIO)
Analysts at Citi have retained their buy rating but trimmed their price target on this mining giant’s shares to $115.00. Although the broker sees near term headwinds for metals demand, it remains positive on Rio Tinto. Particularly given its belief that metals demand and pricing will rebound during the second half of 2023. The Rio Tinto share price is trading at $94.80 on Wednesday afternoon.
The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Broker tips A2 Milk share price to jump 20%
- 2 ASX All Ords shares smashing new 52-week highs today
- Looking to buy Rio Tinto shares? Here’s why this fundie says there is ‘something terribly wrong’
- What’s the outlook for ASX dividend shares for the rest of 2022?
- What’s the outlook for A2 Milk shares in the second quarter?
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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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