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:
Monadelphous Group Ltd (ASX: MND)
A note out of Citi reveals that its analysts have retained their buy rating on this engineering company's shares with an improved price target of $15.30. The broker feels there is a sense of rejuvenated optimism around Monadelphous following a series of recent contract awards and no shortage of opportunities. All in all, Citi appears confident that this will lead to steady revenue growth going forward. The Monadelphous share price is trading at $13.88 this afternoon.
ResMed Inc (ASX: RMD)
According to a note out of Macquarie, its analysts have retained their outperform rating on this sleep treatment company's shares with a trimmed price target of $32.60. The broker believes that a recent pullback in the company's share price has created a buying opportunity for investors. And while it acknowledges that weight loss drugs could soften demand for sleep treatment products over the long term, it still believes ResMed can grow at a solid rate. The ResMed share price is fetching $23.54 today.
Telix Pharmaceuticals Ltd (ASX: TLX)
Analysts at Bell Potter have retained their buy rating and $14 price target on this radiopharmaceutical company's shares. Bell Potter remains positive on the company's outlook and is forecasting second-half revenue of $274 million. This represents a 24% increase on its first-half revenues. Looking further ahead, the broker sees multiple uses for PSMA PET agents beyond the label indications. It expects this to support its longer term growth. The Telix share price is trading at $11.46 on Friday.
