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:
Treasury Wine Estates Ltd (ASX: TWE)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $13.40 price target on this wine company's shares. The broker has been looking at the consumer sector and continues to rate Treasury Wine as a top buy. It highlights the 19 Crimes rebranding, One by Penfolds and Multi-Country of Origin launches, and Matua and Frank Family scaling as reasons to be positive. The Treasury Wine share price is trading at $11.86 today.
Westpac Banking Corp (ASX: WBC)
A note out of Morgans reveals that its analysts have retained their add rating on this banking giant's shares with a trimmed price target of $22.58. This follows the release of an update on the bank's institutional business this week. It sees opportunities for Westpac to grow this business in the future, which could be a boost to its share price. Outside this, the broker continues to see value in the bank's shares and expects attractive dividend yields in the near term. The Westpac share price is fetching $21.91 on Friday.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have retained their conviction buy rating and $42 price target on this supermarket giant's shares. The broker believes Woolworths can continue to grow its market share thanks to its early work on its store network, technology and automation, as well as digital and omnichannel capabilities. The Woolworths share price is trading at $38.02 this afternoon.
