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:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Goldman Sachs, its analysts have initiated coverage on this lottery ticket seller's shares with a buy rating and $15.30 price target. Goldman likes Jumbo due to its strong growth outlook driven partly by its Powered by Jumbo business. It believes this side of the business is well-placed to grow its market share at home and overseas. All in all, Goldman is forecasting earnings growth ahead of consensus estimates in the coming years. The Jumbo share price is trading at $12.18 today.
Mineral Resources Limited (ASX: MIN)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this mining and mining services company's shares to $86.00. Citi recently attended a presentation relating to Mineral Resources' Mt Marion and Wodgina lithium operations. Following the presentation, the broker remains very bullish and is expecting these lithium operations to generate over three-quarters of its earnings in FY 2023. The Mineral Resources share price is fetching $70.48 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 $7.20. This follows the release of the company's first half update, which revealed materially stronger than expected earnings. The good news is that UBS believes that FY 2024 could be even stronger, which could bode well for the company's shares. The Qantas share price is trading at $5.83 this afternoon.
