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:
Accent Group Ltd (ASX: AX1)
According to a note out of Bell Potter, its analysts have retained their buy rating on this footwear focused retailer's shares with a lowered price target of $2.10. The broker notes that the Platypus and The Athlete's Foot operator has released a disappointing trading update which revealed that trading conditions have been tough during the second half. This means that Accent's earnings for FY 2025 are expected to come in well short of consensus estimates. Bell Potter thinks investors should be buying the dip. Especially given its belief that a turnaround in fortunes is on the horizon now that interest rates are falling. In addition, it is expecting the roll out of the Sports Direct brand to support its growth in the coming years. The Accent share price ended the week at $1.36.
Breville Group Ltd (ASX: BRG)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this appliance manufacturer's shares with a trimmed price target of $40.20. The broker has been looking through recent industry data and appears to believe that it supports its revenue forecasts for Breville. This would mean that double-digit sales growth is possible for the company through to 2027, underpinned by its global expansion and exposure to the growing coffee market. And while Macquarie has reduced its valuation after cutting its earnings estimates slightly to reflect higher cost assumptions, it still sees a lot of value on offer here for investors. The Breville share price was fetching $29.10 at Friday's close.
Suncorp Group Ltd (ASX: SUN)
Analysts at Morgan Stanley have retained their overweight rating on this insurance giant's shares with an improved price target of $25.00. According to the note, Suncorp is Morgan Stanley's top pick in the insurance industry right now. The broker highlights that the company has better earnings quality and a stronger revenue growth outlook than local peers. Despite this, its shares are trading at a discount to them. The good news is that Morgan Stanley sees opportunities for Suncorp to close the gap and unlock value for shareholders. This includes sorting out its lack of aggregate reinsurance against volatility. It also feels it could unlock $1.4 billion in capital equity through a quota share. The Suncorp share price ended the week at $21.43.
