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:
Coles Group Ltd (ASX: COL)
According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this supermarket giant's shares to $20.10. This follows the release of a full year result that fell a touch short of the broker's expectations but ahead of consensus estimates. And while it notes that Coles' Ocado and Witron costs are now expected to be higher, these should still be a big boost to earnings in the future once operational. Overall, the broker has seen enough to stay positive on the retailer. The Coles share price is trading at $17.65 today.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Morgans reveals that its analysts have retained their add rating but trimmed their price target on this pizza chain operator's shares slightly to $90.00. The broker believes that Domino's is over the worst of its issues now and that it is onwards and upwards from here. So much so, it is forecasting double-digit earnings growth in both FY 2023 and FY 2024. Outside this, the broker highlights that the engine of Domino's growth is the rollout of new stores and feels that its medium-term opportunity is undiminished. The Domino's share price is fetching $66.04 on Friday.
Qantas Airways Limited (ASX: QAN)
Analysts at UBS have retained their buy rating and lifted their price target on this airline operator's shares to $6.80. According to the note, UBS was impressed with Qantas' performance in FY 2022, with its results coming in well ahead of its estimates. In addition, with Qantas announcing a $400 million buyback, it feels this is an indication that management is confident in its outlook. The Qantas share price is trading at $5.16 this afternoon.
