It has been another busy week for Australia's top brokers. This has led to the release of a 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:
Platinum Asset Management Ltd (ASX: PTM)
According to a note out of Bell Potter, its analysts have upgraded this fund manager's shares to a buy rating with an improved price target of $1.20. This follows the release of a turnaround program and funds update. The broker was very pleased with the former, noting that its reduced cost base could have a very positive impact on its earnings. As a result, it has upgraded its earnings estimates materially in FY 2025 and FY 2026. All in all, Bell Potter believes the turnaround program means that the risk/reward has now shifted to the upside. The Platinum share price ended the week at $1.08.
Premier Investments Limited (ASX: PMV)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this retail giant's shares with an increased price target of $38.00. This follows the release of Premier Investments' half-year results, which revealed earnings comfortably ahead of guidance. Morgan Stanley was also pleased with its plans to divest its Smiggle and Peter Alexander businesses in 2025. Overall, the broker feels that Premier Investments is the top pick in the industry for investors right now. The Premier Investments share price was fetching $32.81 at Thursday's close.
Webjet Ltd (ASX: WEB)
Analysts at UBS have retained their buy rating on this online travel agent's shares with an improved price target of $10.00. According to the note, the broker was pleased with Webjet's update on the WebBeds business last week. After working through the presentation, it believes that the company is well-positioned to accelerate its growth through the use of big data and artificial intelligence. So much so, UBS believes the company can grow quicker than consensus estimates. The Webjet share price ended the week at $8.83.
