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 $28.00. This follows the release of a full year result that was ahead of the broker's expectations. And while the broker doesn't expect the company's development profits to be as strong in FY 2023, it sees scope for upside surprise to estimates from its property earnings. The Brickworks share price is trading at $21.13 on Friday.
Coles Group Ltd (ASX: COL)
Another note out of Citi reveals that its analysts have retained their buy rating and $20.10 price target on this supermarket giant's shares. This follows news that the company has agreed to sell its Coles Express business for $300 million. The broker is a fan of the plan and expects the company to be able to focus its efforts on improving its core business which has been losing market share. Citi also believes the money from this sale could support the expansion of its supermarket network and store renewal program. The Coles share price Is fetching $16.29.
CSL Limited (ASX: CSL)
Analysts at Morgan Stanley have retained their overweight rating and $323.00 price target on this biotherapeutics company's shares. The broker highlights that the latest plasma collection data is very positive with further solid growth year on year. And with the company's shares pulling back materially from their highs, the broker sees a lot of value in them now. Particularly given its belief that its margin recovery is now starting. The CSL share price is trading at $276.90 today.
