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:
Breville Group Ltd (ASX: BRG)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $24.70 price target on this appliance manufacturer's shares. This follows the release of a trading update at the company's annual general meeting. Goldman highlights that Breville continues to perform positively thanks to resilient demand for its products in the US and APAC regions. It also likes the company due to its strong position in the at-home coffee market. The Breville share price is trading at $21.28 on Friday.
Computershare Limited (ASX: CPU)
A note out of Morgans reveals that its analysts have retained their add rating and lifted their price target on this financial administration company's shares to $33.52. Morgans was pleased with Computershare's annual general meeting update. It notes that management has increased its earnings per share growth guidance for FY 2023 to 90% from 55% thanks to rising rates. This has led to Morgans lifting its earnings estimates by 20% for FY 2023 and 35% for FY 2024. The Computershare share price is fetching $26.16 this afternoon.
REA Group Limited (ASX: REA)
Analysts at Credit Suisse have retained their outperform rating but trimmed their price target on this property listings company's shares to $140.80. Credit Suisse was pleased with REA's performance during the first quarter. However, it has downgraded its earnings estimates to reflect a sharp drop in listings during October, which has been partly offset by lower costs guidance. The REA share price is trading at $119.86 on Friday afternoon.
