It has been another busy week for many of 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 right now:
Aristocrat Leisure Ltd (ASX: ALL)
According to a note out of Bell Potter, its analysts have retained their buy rating on this gaming technology company's shares with an improved price target of $85.00. This follows the release of its annual general meeting update this week. Bell Potter was pleased with the update and highlights that management is guiding to NPATA growth in FY 2025 on a constant currency basis. Outside this, the broker continues to expect operating momentum to accelerate, particularly in Gaming Operations. Furthermore, two months of game performance data indicates that its new Phoenix Link game is likely growing its install base ahead of the market's expectations. The Aristocrat share price is trading at $73.92 on Friday.
Pilbara Minerals Ltd (ASX: PLS)
Another note out of Bell Potter reveals that its analysts have retained their buy rating and $3.00 price target on this lithium miner's shares. Bell Potter notes that Pilbara Minerals has released its half year results and revealed a sizeable cash burn. This was driven by weak lithium prices and significant capex during the half. However, the broker believes this is the top of the current capex cycle for its large-scale approved development pipeline. As a result, it expects the company to return to positive free cash flow in FY 2026. Especially given its belief that potential supply shortages could boost lithium prices in the near future. The Pilbara Minerals share price is fetching $2.07 at the time of writing.
Telstra Group Ltd (ASX: TLS)
Analysts at Goldman Sachs have retained their buy rating and $4.50 price target on this telco giant's shares. This follows the release of the company's half year results this week. Goldman was pleased with the "strong" result and the announcement of an earlier than expected $750 million on-market share buyback. Looking ahead, Goldman Sachs feels that this strong first half leaves the company well-placed to deliver on the upper end of its EBITDA guidance in FY 2025. As a result, it thinks its shares are good value at current levels. The Telstra share price is trading at $4.11 this afternoon.
