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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Bell Potter, its analysts have retained their buy rating on this infant formula company's shares with an improved price target of $6.80. This follows news that the US FDA has approved the company's entry into the country's infant formula market. Bell Potter views the initial entry into the US infant formula category as incrementally positive and sees a major opportunity in the market if sales velocities approach levels seen in other markets. The A2 Milk share price is trading at $5.42 today.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Morgans reveals that its analysts have retained their add rating and $88.00 price target on this pizza chain operator's shares. Morgans was pleased with Domino's first quarter update and was encouraged to see same store sales growth turn positive in October. Its analysts believe this could mark an inflection point for sales growth, which it feels is likely to accelerate as the year goes on. The Domino's share price is fetching $54.57 on Friday.
Woolworths Group Ltd (ASX: WOW)
Analysts at Citi have retained their buy rating on this retail giant's shares with a trimmed price target of $39.50. While Citi was disappointed with the performance of Woolworths' supermarkets during the first quarter, it remains positive on the company. Particularly given its belief that margins will improve over the course of FY 2023 thanks to a return to predictable spending patterns. The Woolworths share price is trading at $32.45 today.
