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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BHP Group Ltd (ASX: BHP)
According to a note out of Macquarie, its analysts have retained their outperform rating on this mining giant's shares with an improved price target of $50. The broker has lifted its estimates and valuation to reflect a higher-than-expected iron ore price over the medium term. It also now expects a ~4.3% dividend yield in FY 2024. The BHP share price is trading at $47.70 today.
CSL Limited (ASX: CSL)
A note out of Citi reveals that its analysts have retained their buy rating and $325 price target on this biotechnology giant's shares. Citi notes that it has been at rival Takeda's Plasma-Derived Therapies investor event. Its analysts left the event feeling very positive about the outlook for immunoglobulin growth over the medium term despite competition from FcRns. As a result, the broker remains confident in its growth forecasts for CSL's immunoglobulin franchise. The CSL share price is fetching $266.17 this afternoon.
Perpetual Ltd (ASX: PPT)
Analysts at Bell Potter have retained their buy rating and $27.09 price target on this fund manager's shares. It believes the takeover received and rejected this week reinforces its view that the company's shares have been undervalued for some time. The broker feels that the story doesn't end at this rejection and suspects that more bids could be coming for Perpetual. The Perpetual share price is trading at $25.60 on Friday.
