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:
Brickworks Limited (ASX: BKW)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this building products company's shares to $26.00. This follows the release of a first half result which came in well ahead of the broker's expectations. Looking ahead, Citi remains positive on Brickworks' outlook. This is largely due to its strong performing property joint venture. The Brickworks share price is trading at $23.82 on Friday.
Coles Group Ltd (ASX: COL)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $19.70 price target on this supermarket giant's shares. The broker believes Coles is benefiting from rising food inflation and doesn't expect the trend to stop in the near term. All in all, Macquarie continues to see a lot of value in the company's shares at the current level and retains it as one of top picks in the retail sector. The Coles share price is fetching $17.81 this afternoon.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Analysts at Goldman Sachs have retained their buy rating and $3.40 price target on the media company's shares. According to the note, the broker was pleased with Nine's strategy update for its Stan business. Goldman believes the update highlighted both the quality and the quantum of original content that Stan is producing. The broker feels this and its Stan Sport offering remain a key differentiator in a competitive market and will allow continued subscriber and earnings growth. The Nine share price is trading at $2.93 on Friday afternoon.
