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:
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Liontown Resources Ltd (ASX: LTR)
According to a note out of Macquarie, its analysts have retained their outperform rating and $3.40 price target on this lithium developer's shares. This follows news that the company has signed a binding power purchase agreement with Zenith Energy. The broker believes this is a positive outcome for the company and remains positive on the outlook of the Kathleen Valley project. The Liontown share price is trading at $1.26 on Friday.
Mineral Resources Ltd (ASX: MIN)
A note out of Morgans reveals that its analysts have initiated coverage on this mining and mining services company's shares with an add rating and $94.00 price target. The broker is a fan of Mineral Resources due to its transformation from being primarily leveraged to high-cost/shortlife iron ore operations to low-cost/long-life iron ore and lithium assets. The Mineral Resources share price is fetching $79.30 today.
TPG Telecom Ltd (ASX: TPG)
Analysts at Morgans have upgraded this telco's shares to an add rating with a $5.50 price target. Morgans made the move on the belief that recent share price weakness has created a buying opportunity for investors. Although it was disappointed to see the Telstra Corporation Ltd (ASX: TLS) blocked by the ACCC, its analysts believe the bad news is now priced in. Furthermore, the broker highlights that the Optus hack this year is likely to be a positive for TPG. The TPG share price is trading at $4.83 on Friday.
