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:
BHP Group Ltd (ASX: BHP)
According to a note out of Macquarie, its analysts have retained their outperform rating and lifted their price target on this mining giant’s shares to $61.00. Macquarie has been looking over the petroleum demerger and notes that the value of the transaction has increased materially since first being announced. Outside this, the broker highlights that iron ore and coal prices have been booming, which bodes well for its earnings in FY 2022. The BHP share price is trading at $46.30 on Friday.
Liontown Resources Limited (ASX: LTR)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and $2.50 price target on this lithium developer’s shares. Macquarie remains very positive on lithium and highlights that Liontown will soon be making a final investment decision on its Kathleen Valley in Western Australia. Before then, the broker suspects the company will add to its existing offtake agreements with Tesla and LGES. The Liontown share price is fetching $1.64 today.
Moneyme Ltd (ASX: MME)
Analysts at Morgans have retained their add rating but trimmed their price target on this lender’s shares to $2.35. This follows the completion of its acquisition of Society One. In addition, the broker has factored in the company’s recent results, though it has lowered its valuation to reflect reduced earnings estimates from higher than expected impairment expenses. The MoneyMe share price is trading at $1.48 today.