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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Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of Morgans, its analysts have retained their add rating on this travel agent giant's shares with a trimmed price target of $26. Morgans believes that Flight Centre's material improvement in its profit margins during the second half demonstrates its more efficient and profitable new business model. Looking ahead, the broker sees significant upside to consensus estimates if Flight Centre achieves its 2% margin target in FY 2025. The Flight Centre share price is trading at $21.34 today.
Harvey Norman Holdings Limited (ASX: HVN)
A note out of Citi reveals that its analysts have upgraded this retailer's shares to a buy rating with an improved price target of $4.60. Citi feels it is unlikely to get worse from here for Harvey Norman. Particularly given that there are numerous tailwinds on the horizon including a house price recovery, a warmer summer allowing the sell-through of excess seasonal inventory, and the stage three tax cuts. The Harvey Norman share price is fetching $4.08 on Friday.
IGO Ltd (ASX: IGO)
Analysts at Goldman Sachs have retained their buy rating on this battery materials company's shares with a trimmed price target of $14.80. This follows the release of an FY 2023 result that was in line with expectations. Outside this, the broker believes IGO's shares are attractively priced. Particularly given the quality of its Greenbushes operation, which it highlights is the lowest cost lithium asset under coverage. The IGO share price is trading at $13.77 this afternoon.
