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:
Accent Group Ltd (ASX: AX1)
According to a note out of Citi, its analysts have retained their buy rating and $2.57 price target on this footwear retailer's shares. The broker is feeling positive about Accent Group's outlook, particularly given how foreign exchange risks are lower than it originally anticipated. In addition, Citi suspects that Accent Group could be given the keys to the Sports Direct brand in Australia. This is because Sports Direct's owner has bought a large stake in Accent Group and management has spoke about strategic opportunities. The Accent share price is trading at $1.82 on Friday.
Pro Medicus Limited (ASX: PME)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this health imaging technology company's shares with a reduced price target of $280.00. Following a review of the timing of new contract installations, the broker has reduced its revenue and earnings forecasts for the near term. While Bell Potter remains highly positive on Pro Medicus, it acknowledges that due to exceptionally high levels of new work and potential for delays on installations, there is more scope than at any time in the recent past for share price volatility upon the announcement of earnings. The Bell Potter share price is fetching $204.60 at the time of writing.
Wesfarmers Ltd (ASX: WES)
Analysts at Goldman Sachs have retained their buy rating and $80.40 price target on this conglomerate's shares. According to the note, the broker was pleased with the Bunnings investor day event. It highlights that there is a double-digit growth opportunity in its sales per square metre (sqm). This is based on its key US peers delivering sales per sqm that is 1.5-2.1x relative to Bunnings. Outside this, the broker likes Wesfarmers due to its portfolio management, which it expects to see lithium/health scaling to deliver double digit EBIT growth in FY 2026. Goldman feels that its shares are undervalued relative to these growth prospects. The Wesfarmers share price is trading at $72.47 on Friday.
