Many of Australia's top brokers have been busy adjusting their financial models and recommendations. This has led to a number of broker notes being released 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:
Collins Foods Ltd (ASX: CKF)
According to a note out of Citi, its analysts have upgraded this quick service restaurant operator's shares to a buy rating with a trimmed price target of $10.30. Citi made the move on valuation grounds, highlighting that the KFC restaurant operator's shares have fallen heavily in recent months. Given that the company's core Australian operations appear to be performing solidly and are cycling modest growth in the prior corresponding period, Citi feels that Collins Foods is well-positioned for growth. However, it does acknowledge that inflation could pose a risk to costs. Nevertheless, it appears to believe this is more than priced into its current share price. The Collins Foods share price is trading at $8.27 on Wednesday.
Qantas Airways Ltd (ASX: QAN)
A note out of Ord Minnett revealed that its analysts have retained their buy rating on this airline operator's shares with an improved price target of $11.50. The broker is feeling even more positive on the Flying Kangaroo after reviewing Project Sunrise and fleet renewal progress. Ord Minnett believes the transformation will have a big impact on earnings by reducing fuel consumption per passenger. In light of this, the broker thinks now could be a good time for investors to snap up Qantas shares. The Qantas share price is fetching $10.31 at the time of writing.
WiseTech Global Ltd (ASX: WTC)
Another note out of Ord Minnett reveals that its analysts have retained their buy rating on this logistics solutions company's shares with a reduced price target of $60.00. Ord Minnett believes the company could be struggling to convert customers to its new pricing model. Unfortunately, it thinks customers are not in a rush to switch to the new model and could wait until the end of their contracts until they do. As a result, it has downgraded its revenue assumptions meaningfully to reflect this. The WiseTech Global share price is trading at $33.53 this afternoon.
The post Top brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in Collins Foods and WiseTech Global. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool Australia has recommended Collins Foods. 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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