It was a busy week for 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:
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Collins Foods Ltd (ASX: CKF)
According to a note out of Morgans, its analysts have retained their buy rating and $10.60 price target on this quick service restaurant operator's shares. Morgans was pleased with Collins Foods' trading update, highlighting that group sales are up 6.6% for the first 17 weeks of FY 2027. This is being driven by resilience in Australia and European same store sales improving markedly. In light of this, the broker sees value in its shares at current levels and is recommending them to clients. The Collins Foods share price ended the week at $8.47.
Liontown Ltd (ASX: LTR)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $1.90 price target on this lithium miner's shares. The broker highlights that Liontown's valuation is lagging the recent recovery in lithium markets and expected tight fundamentals. In fact, it points out that the company's shares were last trading at this valuation when lithium prices were significantly lower and its net debt was meaningfully higher. In addition, since then, the Kathleen Valley underground ramp-up has been further de-risked. And while it expects lithium markets to remain volatile, Bell Potter believes market fundamentals remain strong. The Liontown share price was fetching $1.23 at Friday's close.
Qantas Airways Ltd (ASX: QAN)
Analysts at Morgan Stanley have retained their overweight rating and $12.80 price target on this airline operator's shares. According to the note, the broker believes Qantas is one of the best options among the Australian industrials it has under coverage. It thinks the company is well-placed to benefit from resilient demand and pricing and expects this to help offset higher fuel costs. Morgan Stanley also believes the market is underestimating the earnings potential of the international business as premium capacity and new aircraft increase. The Qantas share price ended the week at $9.39.
