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:
Accent Group Ltd (ASX: AX1)
According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on this footwear retailer's shares to $2.80. Bell Potter believes that Accent is well-placed to benefit from having a younger target demographic, emerging trends in casual/trend footwear, and the NSW Back to School voucher. The Accent share price is trading at $2.42 this afternoon.
Bega Cheese Ltd (ASX: BGA)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this diversified food company's shares with an improved price target of $4.10. The broker is feeling confident about Bega Cheese's outlook thanks to its exposure to relatively stronger commodities (cream cheese and mozzarella) against a backdrop of commodity driven weaker southern farmgate prices. All in all, Bell Potter believes the company is well-placed to grow its EBITDA to $200 million in FY 2024 from an estimated $159 million in FY 2023. The Bega Cheese share price is fetching $3.77 on Thursday.
Seek Ltd (ASX: SEK)
Analysts at Morgans have retained their add rating on this job listings company's shares with an improved price target of $28.40. Morgans was pleased with the company's investor day update this week. It highlights that Seek is targeting $2 billion in revenue by FY 2028, which is well ahead of the previous consensus estimate of $1.7 billion. The Seek share price is trading at $24.73 this afternoon.
