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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Paladin Energy Ltd (ASX: PDN)
According to a note out of Macquarie, its analysts have retained their outperform rating and $1.00 price target on this uranium developer's shares. The broker believes this week's sell off has created a buying opportunity for investors. Particularly given how it doesn't expect the Namibian government to take a stake in the Heinrich uranium mine. It only expects newly approved mines to be subject to this sort of action. Overall, the broker remains positive and highlights that Paladin Energy is on track to produce uranium from the start of next year. The Paladin Energy share price is trading at 68 cents today.
South32 Ltd (ASX: S32)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $4.80 price target on this mining giant's shares. Goldman conducted a site visit of South32's Hermosa project and was pleased with what it saw. So much so, it has boosted its valuation of Hermosa by US$150 million to US$1.85 billion. Outside this, the broker likes South32 due to its attractive valuation and big forecast dividend yield. The South32 share price is fetching $3.92 today.
Tabcorp Holdings Ltd (ASX: TAH)
Analysts at Morgans have retained their add rating on this gambling company's shares with an improved price target of $1.30. Morgans was pleased with what it heard at Tabcorp's investor day. This is particularly the case with management's plan to achieve its FY25 targets through a combination of data analytics, enhanced market positioning, and a shift towards being a digital-oriented, data-driven innovator. The broker believes these changes would make Tabcorp a much better business. The Tabcorp share price is trading at $1.15 this afternoon.
