It has been another busy week for Australia's top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here's why brokers think these ASX shares are in the buy zone:
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NEXTDC Ltd (ASX: NXT)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this data centre operator's shares to $15.40. Although Citi was a little underwhelmed with its full year results, it remains positive on the future. This is due to the broker's medium term earnings estimates being largely underpinned by contracts and customer expansion options. The NEXTDC share price is trading at $13.95 on Friday afternoon.
Regis Resources Limited (ASX: RRL)
A note out of Morgans reveals that its analysts have retained their add rating and $3.93 price target on this gold miner's shares. This follows the release of a full year result that was in line with the broker's expectations. Outside this, the broker remains bullish due to the Tropicana acquisition and underground developments at Duketon. The Regis Resources share price is fetching $2.40 this afternoon.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Goldman Sachs have retained their buy rating and $4.30 price target on this telco giant's shares. The broker has been looking at the telco industry and remains positive on Telstra's prospects. It notes that NBN prices are rising as market rationality returns. It also highlights regulatory support, with the NBN's recent 2022 corporate plan implying a reduction in access costs for providers like Telstra. This could be a boost to Telstra's NBN margins. The Telstra share price is trading at $3.84 on Friday afternoon.
