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:
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AMP Ltd (ASX: AMP)
According to a note out of Ord Minnett, its analysts have upgraded this financial services company's shares to a buy rating with an improved price target of $1.95. While it notes that operating trends are reasonably subdued, it feels that this is more than priced in. In addition, it highlights that the settlement of a major class action has reduced risks and essentially cleared the decks for the company. And with a stronger capital position, the broker appears to believe that it is onwards and upwards from here for AMP. The AMP share price is trading at $1.69 on Friday afternoon.
Goodman Group (ASX: GMG)
A note out of Citi reveals that its analysts have retained their buy rating and $40.00 price target on this industrial property company's shares. This follows news that Goodman is delivering on its data centre growth plans. This includes the structural topping out of its Goodman LAX01 Vernon data centre in Los Angeles, California (LAX01). Citi agrees that this marks a major milestone for the company. In addition, it highlights that Aware Super will acquire a 49% stake in a new $2 billion US partnership with Goodman. The three seed assets in the platform comprising 2.775 million square feet of building area, on 187.3 acres of land, located in the state of California. These properties are already underpinned by high-quality customers including Amazon, Maersk, and Relativity Space. The Goodman share price is fetching $34.19 at the time of writing.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Macquarie have retained their outperform rating on this lithium miner's shares with an improved price target of $2.75. According to the note, the broker has trimmed its near term lithium forecasts to below consensus levels. This has led to Macquarie cutting its earnings estimates for Pilbara Minerals accordingly. Despite this, it remains positive on the lithium miner due to its positive longer term outlook. The broker recently noted that if battery energy storage systems continue their current growth trajectory, lithium consumption could rise substantially. This could establish a higher demand base for 2026 and beyond. The Pilbara Minerals share price is trading at $2.52 on Friday.
