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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this gaming technology company’s shares to $41.00. This follows the release of a half-year result that smashed the broker’s estimates thanks to strength from its land-based businesses. Pleasingly, Citi believes that Aristocrat’s strong market position is sustainable and continues to forecast further solid earnings growth in the coming years. The Aristocrat share price is trading at $35.21 on Friday.
Goodman Group (ASX: GMG)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating on this industrial property company’s shares with a $24.05 price target. Credit Suisse was pleased to see Goodman increases its earnings per share growth guidance to 23% for FY 2022. Looking ahead, the broker continues to forecast solid earnings growth in the coming years, noting that there is good visibility on the company’s future earnings thanks to its work in progress pipeline. The Goodman share price is fetching $19.37 today.
Webjet Limited (ASX: WEB)
Another note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this online travel agent’s shares to $6.75. While the broker expects volatility to remain as we come out the pandemic, it takes comfort that the business is trending in the right direction. Furthermore, Citi is very optimistic on Webjet’s potential in the US market and suspects the market could rerate its shares to higher multiples as it grows in the massive market. The Webjet share price is trading at $6.02 on Friday afternoon.