With most brokers taking a break over the holiday period, research notes are few and far between at the moment.
But don't worry because listed below are three recent broker buy recommendations that still have plenty of upside potential.
Here's why brokers think these ASX shares are in the buy zone:
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Qantas Airways Limited (ASX: QAN)
According to a note out of Morgans, its analysts have an add rating and $8.50 price target on this airline operator's shares. Morgans sees a lot of value in the Qantas share price at the current level. Particularly given its expectation that pent-up travel demand will underpin further EBITDA growth over FY24/25. Overall, the broker believes the discount being applied to Qantas' shares is unwarranted. The Qantas share price is trading at $6.23 this afternoon.
REA Group Limited (ASX: REA)
A note out of Goldman Sachs reveals that its analysts have a conviction buy rating and $159.00 price target on this real estate listings company's shares. Goldman remains positive on REA Group's ad yield outlook and is expecting this to underpin modest EBITDA growth in FY 2023 and then a 19% jump in FY 2024. The latter is ahead of analyst consensus estimates. The REA share price is fetching $110.92 this afternoon.
Woolworths Group Ltd (ASX: WOW)
Another note out of Goldman Sachs reveals that its analysts have a conviction buy rating and $41.70 price target on this retail giant's shares. The broker appears pleased with Woolworths' decision to acquire a 55% stake in pet accessories and food retailer Petspiration Group. It sees the transaction as an incrementally positive step in the evolution of its eco-system strategy. Goldman also highlights that the transition from liquor retail and gaming/hotels into higher growth pet retail is in line with its strategy. The Woolworths share price is trading at $33.10 on Thursday.
