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:
CSL Ltd (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $334.00 price target on this biotechnology company's shares. Morgan Stanley has been looking at plasma collection data. It was pleased with what it saw in respect to collections and the company's network rollout. In light of this, it remains very positive on the company's outlook. The CSL share price ended the week at $293.00.
IDP Education Ltd (ASX: IEL)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this student placement and language testing company's shares with a trimmed price target of $25.00. The broker acknowledges that the company could be impacted by policy changes in Canada in the near term and has downgraded its earnings estimates to reflect this. Nevertheless, it remains very positive on the long term and is forecasting strong earnings growth through to at least FY 2026. The IDP Education share price was fetching $19.67 at Friday's close.
Wesfarmers Ltd (ASX: WES)
Analysts at Goldman Sachs have upgraded this conglomerate's shares to a buy rating with an improved price target of $62.90. The broker believes that the key Bunnings business is well-positioned to benefit from a more resilient Australian housing outlook. It expects this to lead to the hardware business generating annual cashflow of $2.5 billion to $3 billion, which will support Wesfarmers' growth opportunities such as in health and lithium. The Wesfarmers share price ended the week at $58.45.
