It was another busy week for Australia's top brokers. This led to the release of a large number of broker notes.
Three ASX 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:
Goodman Group (ASX: GMG)
According to a note out of Morgans, its analysts have initiated coverage on this industrial property company's shares with an add rating and $24.00 price target. The broker believes that Goodman is well-positioned for growth because it operates in a sub-sector that continues to benefit from increased demand from end users. Morgans expects this to allow Goodman to continue to grow its assets under management at a nice rate in the coming years. The Goodman share price was trading at $19.61 on Friday.
Lovisa Holdings Ltd (ASX: LOV)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this fashion jewellery retailer's shares with a trimmed price target of $30.50. The broker has reduced its estimates a touch to account for softening sales and higher wages. Nevertheless, Bell Potter continues to see Lovisa as its key pick in the retail sector. This is due to its large global roll-out opportunity and being more immune to consumer spend pressures given the price point of its products. The Lovisa share price was fetching $18.20 at the end of the week.
Pilbara Minerals Ltd (ASX: PLS)
Another note out of Morgans reveals that its analysts have retained their add rating and $5.00 price target on this lithium miner's shares. Although Morgans suspects that lithium prices are going to weaken from here, it still expects the company to be well-placed to deliver strong profits. In fact, Morgans believes that a potential share buy-back could be on the cards in the near future. The Pilbara Minerals share price ended the week at $4.75.
