It was 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 retained their speculative buy rating on this online luxury products retailer's shares with a reduced price target of $2.00. Bell Potter has been running the rule over Cettire's recent results release. And while it highlights risks relating to its audit issues and softer than expected margins in FY 2024, which have led to lower near term earnings estimates, it isn't enough to put the broker off. Bell Potter continues to see plenty of value in its shares. Especially given its belief that trading conditions will improve in the near future. The Cettire share price ended the week at $1.46.
Hansen Technologies Limited (ASX: HSN)
A note out of Goldman Sachs reveals that its analysts have upgraded this billing technology company's shares to a buy rating with an improved price target of $5.10. Goldman is feeling positive about Hansen's outlook thanks to an acceleration in core business sales. It notes that these are being driven by structural tailwinds. In fact, Goldman estimates that these structural tailwinds could support organic growth of 5% to 7% into the medium term. It also see potential for upside from large contract signings over the period. Despite this, the broker notes that Hansen's shares are trading at a sizeable discount to its historical average forward EV/EBITDA multiple. As a result, on an absolute and growth-adjusted basis, it feels Hansen's valuation is attractive compared to key peers and sees potential for it to re-rate. The Hansen share price was fetching $4.37 at Friday's close.
REA Group Ltd (ASX: REA)
Analysts at Macquarie have retained their outperform rating on this property listings company's shares with a slightly increased price target of $229.00. According to the note, the broker sees positives from its possible takeover of UK property listings peer Rightmove (LSE: RMV). And while Macquarie estimates that the company would need to raise $6.1 billion of equity to acquire the company, it feel this could still be worth it. That's because it estimates that a 20% takeover premium could still result in earnings per share accretion of 14%. The REA Group share price ended the week at $204.66.
