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:
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IDP Education Ltd (ASX: IEL)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this language testing and student placement company's shares to $35.00. This follows the release of a better than expected first half update. Looking ahead, Macquarie expects IDP to benefit from the reopening of borders and its growing footprint in the key India market. The IDP share price is trading at $28.78 this afternoon.
Megaport Ltd (ASX: MP1)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this network as a service provider's shares to $20.20. Citi was pleased with Megaport's half year results. It also highlights that with Megaport's investments now behind it, growth and margins look set to pick up. In addition, Citi sees potential upside to its medium-term forecasts from higher than expected take-up of MVE as the partner channel kicks in. The Megaport share price is fetching $13.80 today.
Mirvac Group (ASX: MGR)
Another note out of Citi reveals that its analysts have upgraded this property company's shares to a buy rating with an improved price target of $3.13. Citi notes that Mirvac delivered a half year result in line with its expectations. And while it suspects the market may be disappointed that the company didn't upgrade its guidance, it sees plenty of value in its shares to upgrade them to a buy rating. The Mirvac share price is trading at $2.50 on Friday afternoon.
