It has been a busy week for Australia's top brokers after the holiday period. 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:
Allkem Ltd (ASX: AKE)
According to a note out of Citi, its analysts have retained their buy rating but trimmed their price target on this lithium miner's shares to $17.30. This follows a solid quarterly update which revealed an impressive performance from the company's Olaroz operation. The broker was also pleased to see the company guide to strong lithium pricing in the third quarter. The Allkem share price is trading at $12.69 on Friday.
Dicker Data Ltd (ASX: DDR)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $13.00 price target on this computer hardware and software distributor's shares. Ahead of earnings season, Morgan Stanley has been looking at the prospects of companies under coverage in the mid cap space. The good news is that the broker believes Dicker Data is well-placed to deliver on its estimates this year thanks to easing supply chain headwinds and strong momentum. The Dicker Data share price is fetching $10.96 this afternoon.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Macquarie have retained their outperform rating and $7.50 price target on this lithium miner's shares. This follows the release a strong second quarter update which revealed production and shipments ahead of the broker's estimates. Macquarie was also pleased with its lithium price realisation and cost reductions. Combined, it notes that this has underpinned a big boost to its cash balance. The Pilbara Minerals share price is trading at $4.42 on Friday.
