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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Greatland Resources Ltd (ASX: GGP)
According to a note out of Citi, its analysts have upgraded this gold miner's shares to a buy rating with an improved price target of $16.00. The broker made the move following the release of further positive drilling results from Telfer. It highlights that there has been a significant increase in the West Dome open-pit resource, which was better than expected and lifts the mining life beyond consensus estimates. Another positive was a higher than expected grade from its underground resource. Combined with the O'Callaghans deposit, Citi believes the market isn't fully pricing in Greatland Resources' potential. The Greatland Resources share price ended the week at $12.85.
Nufarm Ltd (ASX: NUF)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. The broker highlights that we are entering the most material selling windows for Nufarm. The good news is that the majority of markets look supportive of reasonable demand levels of crop protection products. In addition, Bell Potter points out that upward movements in active ingredients and omega-3 indicators all look to support a reasonable pricing environment. It feels that this leaves Nufarm well-positioned to deleverage its balance sheet, which could be a positive share price catalyst. The Nufarm share price was fetching $2.03 at Thursday's close.
Santos Ltd (ASX: STO)
Analysts at Macquarie have retained their outperform rating on this energy producer's shares with an improved price target of $8.75. According to the note, the broker has boosted its earnings estimates for the energy sector to reflect higher oil and LNG prices. It highlights that the war in the Middle East is very unpredictable and further oil prices rallies are a possibility. Santos' earnings per share estimates have been materially increased through to FY 2028 compared to previous expectations. The Santos share price ended the week at $8.08.
