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:
CSL Limited (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating and $325 price target on this biotherapeutics giant's shares. The broker highlights that the company's CSL Vifor business could be impacted by Ozempic's potential expansion into treating chronic kidney disease. Citi estimates that CSL generates 7% of its revenue from nephrology. However, it doesn't appear overly concerned at this point and continues to forecast CSL Vifor revenue growth of 4.5% per annum through to FY 2028. The CSL share price is trading at $242.95 today.
IGO Ltd (ASX: IGO)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $13.30 price target on this battery materials producer's shares. Goldman has been looking at the industry following recent lithium price weakness. It feels that IGO remains a great option even with falling lithium prices. Particularly given how it has the highest average free cash flow per tonne of its peers thanks to its low costs. The IGO share price is fetching $11.71 on Friday.
Qantas Airways Limited (ASX: QAN)
Analysts at Morgans have retained their add rating on this airline operator's shares with a trimmed price target of $7.30. Although the broker acknowledges that Qantas' risk profile has clearly changed in recent months, it believes the near-term negative sentiment and fuel headwinds have potentially seen it materially oversold. The Qantas share price is trading at $5.05 this afternoon.
