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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ASX Ltd (ASX: ASX)
According to a note out of Macquarie, its analysts have retained their outperform rating on this stock exchange operator's shares with a reduced price target of $66.50. The broker was disappointed with the company's business update earlier this week and has trimmed its estimates accordingly. Nevertheless, Macquarie believes the company's defensive qualities are attractive in the current environment. The ASX share price is trading at $61.45 this afternoon.
Polynovo Ltd (ASX: PNV)
Another note out of Macquarie reveals that its analysts have retained their outperform rating and $2.75 price target on this medical device company's shares. The broker was pleased with a further acceleration in the company's sales during the month of May. Pleasingly, it suspects that this trend can continue due to its expanded salesforce. The Polynovo share price is fetching $1.59 today.
Super Retail Group Ltd (ASX: SUL)
Analysts at Goldman Sachs have retained their buy rating on this retailer's shares with a lowered price target of $13.60. Goldman has been looking at the retail sector and made revisions to its estimates. While this has resulted in a couple of downgrades, Super Retail has come out of it unscathed. Goldman continues to rate Super Retail as its top pick in the consumer discretionary sub-sector. This is partly due to its strong loyalty program and simplification/productivity benefits. The Super Retail share price is trading at $11.09 on Friday.
