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:
Light & Wonder Inc (ASX: LNW)
According to a note out of Bell Potter, its analysts have retained their buy rating on this poker machine developer's shares with an improved price target of $165.00. The broker feels that the selloff of Light & Wonder's shares since the Dragon Train injunction has created a buying opportunity for investors. Particularly after channel checks underscore its view that Light & Wonder can make meaningful progress in converting the Dragon Train install base into other games. In addition, Bell Potter notes that a review of quarterly industry data shows that Light & Wonder's core and leased game performance held strong, US slot gross gaming revenue remains elevated, and US iGaming revenue has continued to grow strongly year on year. And importantly for Light & Wonder's SciPlay business, its games have held top grossing positions. The Light & Wonder share price ended Friday's session at $140.04.
REA Group Ltd (ASX: REA)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this property listings company's shares with an improved price target of $239.00. This follows the release of a quarterly update from the realestate.com.au operator at its annual general meeting last week. Bell Potter was pleased with the update, highlighting that national new listings for were up 7% year on year for the quarter. Another positive was that REA Group reported the highest monthly volume for September since all the way back in 2015. This was underpinned by ongoing outperformance in key Sydney/Melbourne markets. Looking ahead, with high levels of stock on the market being supported by robust demand, immigration, and stable interest rates, Bell Potter is very positive on its outlook. REA share price was fetching $217.92 at Friday's close.
Web Travel Group Ltd (ASX: WEB)
Analysts at Goldman Sachs have reinstated coverage on this global B2B travel company's shares with a buy rating and $8.20 price target. According to the note, Goldman is feeling very bullish about Web Travel's WebBeds business and believes it could deliver a total transaction value (TTV) compound annual growth rate of ~15% through to the end of the decade. It notes that this would take TTV from an estimated $5 billion in FY 2025 to $10 billion in FY 2030. In light of this strong growth outlook, it believes its shares are good value at current levels. The Web Travel Group share price ended the week at $7.03.
