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:
Adairs Ltd (ASX: ADH)
According to a note out of Goldman Sachs, its analysts have initiated coverage on this homewares retailer's shares with a buy rating and $3.05 price target. Goldman is a fan of Adairs due to its highly loyal customer base and ongoing store roll-out opportunity. It highlights that the company has over 1 million Linen Lover members and an ongoing opportunity to roll out new and upsized stores. It also has a strong social media presence, which it believes can be leveraged to drive ongoing sales growth. The Adairs share price is trading at $2.09 today.
Jumbo Interactive Ltd (ASX: JIN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $17.40 price target on this online lottery ticket seller. The broker remains very bullish on the company's outlook following a strong FY 2022 result last month. It also feels the market is underestimating the company's pricing power. The Jumbo share price is fetching $12.98 on Friday.
Mineral Resources Limited (ASX: MIN)
Analysts at Credit Suisse have retained their outperform rating and $75.00 price target on this mining and mining services company's shares. This follows reports that the company is considering a US spin-off for its lithium operations. The broker believes the company's lithium operations are undervalued by the market and a spin-off could see a major re-rating well beyond its price target. The Mineral Resources share price is trading at $70.97 this afternoon.
