Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a 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:

Allkem Ltd (ASX: AKE)

According to a note out of Macquarie, its analysts have retained their outperform rating on this lithium miner’s shares with a trimmed price target of $19.00. While the broker was disappointed that Allkem has downgraded its Mt Cattlin production guidance, it expects the Sal de Vida and Olaroz operations to be supportive of its medium term production growth. The Allkem share price is trading at $11.45 on Wednesday.

Coles Group Ltd (ASX: COL)

A note out of Citi reveals that its analysts have retained their buy rating on this supermarket giant’s shares with an improved price target of $20.20. This follows the release of a first-half result that came in comfortably ahead of Citi’s expectations. Looking ahead, the broker believes shopping trends are favourable for Coles and feels the market is being too negative on the Ocado partnership. The Coles share price is fetching $18.18 this afternoon.

Hub24 Ltd (ASX: HUB)

Analysts at Morgans have retained their add rating on this investment platform provider’s shares with an improved price target of $31.90. Morgans notes that Hub24’s first-half underlying EBITDA came in well ahead of its forecasts thanks to higher earnings on pooled cash. The broker remains confident on the future, particularly given the potential for larger transition wins and the runway to secure more clients being intact. The Hub24 share price is trading at $28.83 today.

The post Top brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 dividend shares to buy now before their dividend payouts
• Here’s the latest ‘bearish news’ from brokers on ASX 200 lithium stocks
• Is Coles now one of the best ASX 200 dividend shares?
• Here are the top 10 ASX 200 shares today
• Why are ASX 200 lithium shares having such a stellar run today?

Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Hub24. The Motley Fool Australia has positions in and has recommended Coles Group and Hub24. 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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