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:
Chalice Mining Ltd (ASX: CHN)
According to a note out of Bell Potter, its analysts have retained their speculative buy rating on this mineral exploration company's shares with a trimmed price target of $10. The broker has amended its estimates to reflect potential input cost inflation and lower commodity prices. But even after doing so, it sees significant value in the company's shares at the current level. This is due to the Julimar project, which it notes is a globally significant PGE-Ni-Cu deposit. The Chalice Mining share price ended the week at $5.96.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $7.30 price target on this lithium miner's shares. Macquarie was pleased with Pilbara Minerals' production during the fourth quarter, noting that it came in ahead of expectations. And while lithium prices were weaker than expected, it isn't enough to dim its bullish view on the company. The Pilbara Minerals share price was fetching $4.95 at Friday's close.
Pro Medicus Limited (ASX: PME)
Analysts at Goldman Sachs have upgraded this health imaging technology company's shares to a buy rating with an improved price target of $76. The broker believes that Pro Medicus is the clear incumbent technology leader in a growth market with a low-risk market share upside from <10% today. It also highlights the company's optionality to broaden/deepen into a platform solution for adjacent/complementary offerings. The Pro Medicus share price ended the week at $69.28.
