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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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Macquarie, its analysts have retained their outperform rating and $46.50 price target on this gaming technology company's shares. Macquarie believes that a new NFL-themed poker machine offering could be a boost to Aristocrat's lucrative Americas operations ahead of the season launch next month. The Aristocrat share price is trading at $40.51.
Liontown Resources Ltd (ASX: LTR)
A note out of Bell Potter reveals that its analysts have retained their speculative buy rating and $3.35 price target on this lithium miner's shares. This follows news that the company is pushing ahead with its direct shipping ore (DSO) plans to generate revenue before full production commences. Bell Potter suspects that Liontown could generate over $100 million in revenue based on current prices (SC6 ~US$3,500/t). The Liontown share price is fetching $2.75 this morning.
Xero Limited (ASX: XRO)
Analysts at Goldman Sachs have retained their buy rating and $147.00 price target on this cloud accounting platform provider's shares. This follows news that Xero has increased prices in the UK. Goldman sees upside risk to its forecasts based on these price increases. Though, it concedes that the trade-off between price led growth and UK market penetration is likely to be a key investor debate. The Xero share price is trading at $119.87 on Friday.
