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 $57.00 price target on this mining giant’s shares. This follows news that BHP will be holding onto its energy coal portfolio in New South Wales. Macquarie sees positives from the decision. But its main reason to be positive is the high iron ore and copper prices that the Big Australian is commanding at present. It highlights that this is underpinning significant free cash flow generation. The BHP share price is trading at $42.41 on Friday.
CSL Limited (ASX: CSL)
Another note out of Macquarie reveals that its analysts have retained their outperform rating but cut their price target on this biotherapeutics company’s shares to $312.00. Macquarie believes that CSL is well-placed for growth in the coming years. This is thanks to improving plasma collections, solid demand, the impending acquisition of Vifor Pharma, and the introduction of the Rika platform. The latter has been developed to collect plasma quicker and more comfortably. The CSL share price is fetching $255.68 today.
TechnologyOne Ltd (ASX: TNE)
Analysts at Bell Potter have retained their buy rating but trimmed their price target on this enterprise software company’s shares slightly to $12.50. According to the note, the broker suspects that TechnologyOne’s profit growth could go up a level next year. It notes that management has been guiding to 10% to 15% profit before tax growth in recent years. However, thanks to margin expansion, it is expecting FY 2023’s guidance to be 15% to 20% growth. The TechnologyOne share price is trading at $10.15 today.