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 you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:
EML Payments Ltd (ASX: EML)
According to a note out of UBS, its analysts have retained their buy rating and $4.40 price target on this payments company's shares. This follows an update on the company's dealings with the Central Bank of Ireland. UBS believes the update is a major de-risking event and suspects that its shares could re-rate to higher multiples in the future if its performance in Europe picks up because of the development. The EML Payments share price is trading at $3.60 on Friday.
Universal Store Holdings Ltd (ASX: UNI)
A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this retailer's shares to $8.90 following its trading update. Morgans was pleased with the company's performance during the first 20 weeks of FY 2022 and feels it has managed the external challenges of the past few months very well. The broker notes that its sales are ahead of its estimates and its store expansion is also outperforming expectations. The Universal Store share price is fetching $7.69 today.
Webjet Limited (ASX: WEB)
Another note out of Morgans reveals that its analysts have upgraded this online travel agent's shares to an add rating with a $6.60 price target. This follows the release of the company's half year results earlier this week. Morgans was pleased to see that trading has been strong in the third quarter and that two of Webjet's three businesses are now profitable. Looking ahead, the broker believes that Webjet has the potential to be materially more profitable post-COVID. The Webjet share price is trading at $5.41 on Friday afternoon.
