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:
AGL Energy Limited (ASX: AGL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this energy company's shares to $8.81. This follows news that the company will exit coal 10 years ahead of previous plans. Morgans is positive on the move, particularly given its belief that inflexible brown coal plants will struggle as more variable renewables enter the grid. Outside this, the broker has lifted its earnings estimates for FY 2024 onwards due to the continued strength of futures prices. The AGL share price is trading at $6.81 on Friday.
APM Human Services International Ltd (ASX: APM)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $4.20 price target on this health and human services provider's shares. Goldman notes that APM has signed an agreement to acquire Equus Workforce Solutions for US$153 million. The broker highlights that the deal will increase its North American footprint. In addition, Goldman reiterates its belief that the market is under appreciating APM's ability to generate durable earnings growth. The APM share price is fetching $3.33 this afternoon.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Morgan Stanley have retained their overweight rating and $4.62 price target on this telco giant's shares. According to the note, the broker believes that Telstra could be a big winner from the Optus hack. It suspects that mobile customers could switch to Telstra in the coming years because of the scandal. The Telstra share price is trading at $3.86 on Friday afternoon.
