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:
AGL Energy Limited (ASX: AGL)
According to a note out of UBS, its analysts have retained their buy rating on this energy giant's shares with a slightly reduced price target of $11.25. UBS was pleased with AGL's first half result, noting that it was well ahead of the broker's expectations. It sees potential for further earnings outperformance in the coming years if its generation availability can be maintained. The AGL share price ended the week at $8.63.
CSL Ltd (ASX: CSL)
A note out of Morgans reveals that its analysts have retained their add rating on this biotechnology giant's shares with a trimmed price target of $315.40. This follows the release of a solid half-year result which revealed earnings ahead of consensus expectations. Overall, Morgans was pleased with the result and especially the performance of the key CSL Behring business. And although the broker has trimmed its valuation to reflect the CSL112 trial failure, it continues to see a lot of value on offer. The CSL share price was trading at $284.00 at Friday's close.
Pro Medicus Limited (ASX: PME)
Analysts at Macquarie have retained their outperform rating and $120.00 price target on this health imaging technology company's shares. Macquarie notes that Pro Medicus fell short of the broker's first-half expectations with both its revenue and earnings. However, it remains positive given new contract wins and its healthy sales pipeline. The Pro Medicus share price was trading at $87.24 on Friday.
