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:
Collins Foods Ltd (ASX: CKF)
According to a note out of Citi, its analysts have initiated coverage on this quick service restaurant operator's shares with a buy rating and $12.80 price target. Citi is feeling very positive about Collins Foods' long-term growth outlook. In fact, the broker believes the company's operating earnings can nearly double between now and FY 2031. This is expected to be driven by the rollout of KFC in the Netherlands and Australia. The Collins Foods share price ended the week at $10.27.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Morgans reveals that its analysts have upgraded this lithium giant's shares to an add rating with an improved price target of $5.90. Morgans was pleased with news that the company's drilling program has resulted in a significant increase in the mineral resource estimate for the Pilgangoora project. It feels this makes the company's shares attractively priced at the current level. The Pilbara Minerals share price was fetching $5.31 at Friday's close.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Goldman Sachs have retained their buy rating and $13.40 price target on this wine company's shares. The broker has been looking at industry data and notes that it points to a rebound in the performance of its US business. A key driver was the company's largest brand in the US, 19 Crimes, which delivered retail value growth of 16.1% in July. The Treasury Wine share price was trading at $11.70 on Friday.
