It was another busy week for Australia's top brokers. This led to the release of a large number of broker notes.
Three ASX 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:
BHP Group Ltd (ASX: BHP)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this mining giant's shares with an improved price target of $50.50. The broker believes that the iron ore sector should continue to perform strongly in the near term. This is due to analysts upgrading their estimates to reflect higher spot prices and the improving outlook for capital returns in February. The BHP share price ended the week at $47.71.
Corporate Travel Management Ltd (ASX: CTD)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $29 price target on this corporate travel booker's shares. Morgan Stanley is feeling very positive about the company's outlook. This is due to its proprietary technology, acquisitions, and scale, which have created a competitive advantage over locally listed rivals. The Corporate Travel Management share price was fetching $19.95 at Friday's close.
Domino's Pizza Enterprises Ltd (ASX: DMP)
Another note out of Morgan Stanley reveals that its analysts have retained their outperform rating on this pizza chain operator's shares with an improved price target of $70. According to the note, Morgan Stanley believes that Domino's still has a path to margin recovery despite the consensus view that its margins are now structurally lower versus pre-COVID levels. The broker is also optimistic that its FY 2024 performance could be an inflection point for key share price drivers. The Domino's share price ended the week at $58.26.
