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:
BHP Group Ltd (ASX: BHP)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $48.40 price target on this mining giant's shares. This follows the release of a solid fourth quarter update from the Big Australian last week which the broker believes puts it in a position to deliver a full year result in line with expectations next month. In light of this, the broker continues to believe that its shares are good value right now. This is despite them trading at a slight premium to its large cap peers. Goldman believes this is justifiable given its ongoing superior margins and operating performance in the Pilbara. The BHP share price ended the week at $41.76.
Flight Centre Travel Group Ltd (ASX: FLT)
A note out of UBS reveals that its analysts have upgraded this travel agent's shares to a buy rating with an improved price target of $27.80. UBS appears to believe that the stars are aligning for Flight Centre. It has upgraded its medium term earnings estimates materially to reflect falling airfares. The broker believes this will lead to increased volume for the travel booker. In addition, UBS' research has found that consumers are continuing to prioritise travel spending. Combined with its older customer base, which is less impacted by higher rates, the broker believes this bodes well for its growth outlook. The Flight Centre share price was fetching $22.66 at Friday's close.
Hub24 Ltd (ASX: HUB)
Analysts at Bell Potter have retained their buy rating and $53.20 price target on this investment platform provider's shares. According to the note, the broker was pleased with Hub24's performance during the fourth quarter. It notes that the company revealed that total funds under administration (FUA) increased 30% year on year to $104.7 billion. In light of this strong growth, Bell Potter believes that Hub24's shares look cheap compared to other high growth specialist platform providers. The broker also highlights that it likes the company due to its large exposure to superannuation assets and its ability to deliver complex integrations. The Hub24 share price was trading at $46.57 on Friday afternoon.
