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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BHP Group Ltd (ASX: BHP)
According to a note out of Macquarie, its analysts have retained their outperform rating and $52.00 price target on this mining giant's shares. Macquarie remains positive on BHP's outlook thanks to the prospect of robust coal, copper, and iron ore prices. In light of this, it appears to see recent weakness as a buying opportunity for investors. The BHP share price is trading at $45.89 on Friday afternoon.
Nanosonics Ltd (ASX: NAN)
A note out of Morgans reveals that its analysts have retained their add rating on this infection prevention company's shares with an improved price target of $5.24. This follows the release of the company's half-year results, which impressed the broker. It was particularly pleased with the successful transition to a direct sales model and notes that operating leverage is evident. It also highlights the strong momentum in the second quarter and that Nanosonics' new product launch is on track for late 2023. The Nanosonics share price is fetching $4.65 today.
Universal Store Holdings Ltd (ASX: UNI)
Analysts at Goldman Sachs have retained their buy rating on this fashion retailer's shares with an improved price target of $8.05. This follows the release of a strong half-year result and a positive second-half trading update. Goldman believes the latter demonstrates the resilience of Universal Store's core customer base despite cost of living pressures. The Universal Store share price is trading at $5.62 this afternoon.
