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:
Cettire Ltd (ASX: CTT)
According to a note out of Bell Potter, its analysts have upgraded this online luxury products retailer's shares to a buy rating with a trimmed price target of $4.00. This follows the release of a trading update from the company last week. While the update revealed explosive quarterly sales growth that was well ahead of Bell Potter's expectations, it was a touch disappointed with its adjusted EBITDA margin. In light of this, it has revised its earnings expectations and valuation accordingly. Nevertheless, it remains positive on the company due to its huge market opportunity and tiny market share. In addition, it was pleased to see that Cettire plans to launch in China very soon. It notes that this is planned for the fourth quarter, which is ahead of its expectations. The Cettire share price was trading at $3.09 at Friday's close.
Premier Investments Limited (ASX: PMV)
Another note out of Bell Potter reveals that its analysts have resumed coverage on this retail conglomerate's shares with a buy rating and $35.00 price target. The broker believes that Premier Investments' shares are good value at 14x estimated FY 2026 earnings. In fact, its analysts think this valuation is quite conservative given the value it sees emerging from the potential demerger of its two key brands, Smiggle and Peter Alexander. The broker highlights that these brands are worthy of a global roll-out and are highly profitable. Bell Potter is also forecasting attractive 4%+ dividend yields through to at least FY 2026. The Premier Investments share price closed the week at $29.27.
Pro Medicus Limited (ASX: PME)
Analysts at Goldman Sachs have initiated coverage on this health imaging technology company's shares with a buy rating and a $134.00 price target. The broker highlights that Pro Medicus is the clear incumbent technology leader in a growing market with a strong financial profile and significant artificial intelligence upside. Its analysts note that the company's Visage 7 platform is core to many healthcare institutions, providing efficiency gains in a market where demand for imaging continues to grow and radiologist shortages continue. Looking ahead, it thinks the company can almost double its US market share to 13% in FY 2030 from ~7% today. The Pro Medicus share price ended the week at $102.96.
