It has been another busy week for many of Australia's top brokers. This has led to a number of broker notes being released.
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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Light & Wonder Inc (ASX: LNW)
According to a note out of Bell Potter, its analysts have retained their buy rating on this gaming technology company's shares with a reduced price target of $190.00. This follows the release of its quarterly results, which fell short of expectations. While Bell Potter was disappointed with the results and highlights that Light & Wonder has had a poor start to the year, it isn't overly concerned. That's because it thinks the earnings miss was driven by international shipments, which are notoriously lumpy quarter to quarter. As a result, the broker thinks this is a one-off and believes Light & Wonder's international shipments will soon catch back up. In light of this, it sees significant value in the company's shares after recent weakness. The Light & Wonder share price is trading at $114.60 on Friday.
Minerals 260 Ltd (ASX: MI6)
A note out of Morgans reveals that its analysts have retained their buy rating on this gold miner's shares with an improved price target of $1.40. This follows news that the company has awarded a major construction contract for the Bullabulling operation. It feels that this is a key step toward development. In addition, it highlights that ongoing drilling continues to support resource growth, conversion and strike continuity. The broker thinks this reinforces confidence in the scale and quality of the system. As a result, it has updated its model to reflect a larger-scale operation, lifting Stage 2 milling capacity to 8Mtpa (from 7Mtpa) and increasing forecast production to ~228,000 ounces per annum. The Minerals 260 share price is fetching 79 cents at the time of writing.
TechnologyOne Ltd (ASX: TNE)
Another note out of Bell Potter reveals that its analysts have upgraded this enterprise software provider's shares to a buy rating with an improved price target of $31.75. This follows news that Technology One has won a new contract with James Cook University. Bell Potter believes this is significant from a product perspective as it demonstrates the power of Technology One's Agentic AI product to win contracts. As a result, it has boosted its annual recurring revenue forecasts for the medium term and its valuation accordingly. The TechnologyOne share price is trading at $28.13 this afternoon.
