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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Allkem Ltd (ASX: AKE)
According to a note out of UBS, its analysts have upgraded this lithium miner's shares to a buy rating with an improved price target of $12.40. UBS was pleased with Allkem's performance during the first half, noting that its result was ahead of its forecasts. And with lithium prices continuing to increase, the broker has lifted its earnings estimates and valuation accordingly. The Allkem share price is trading at $9.85 on Friday.
Corporate Travel Management Ltd (ASX: CTD)
Another note out of UBS reveals that its analysts have retained their buy rating and $28.20 price target on this corporate travel specialist's shares. This follows news that the ACCC will not oppose its acquisition of the ANZ corporate travel segment of Helloworld Travel Ltd (ASX: HLO). UBS believes the acquisition will allow the company to win a greater share of the market. It also highlights that trading conditions have been improving meaningfully, though acknowledges that the Russia-Ukraine crisis is a risk. The Corporate Travel Management share price is fetching $21.25 today.
NextDC Ltd (ASX: NXT)
Analysts at Citi have retained their buy rating but trimmed their price target on this data centre operator's shares slightly to $14.55. While the broker has reduced its estimates a touch to reflect the slower conversion of its sales pipeline, it remains very positive on the company's outlook. Particularly with its third-generation centres opening in Melbourne and Sydney soon. The NextDC share price is trading at $10.69 on Friday afternoon.
