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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Corporate Travel Management Ltd (ASX: CTD)
According to a note out of Morgans, its analysts have resumed coverage on this corporate travel specialist's shares with a buy rating and $3.06 price target. Morgans notes that after a long suspension, Corporate Travel Management has returned to trade after lodging its FY 2025 and FY 2026 audited accounts. This has seen material earnings restatements in response to years of overcharging clients and will result in refunds of $246m by September 2027. While this is clearly disappointing, Morgans remains positive. It believes earnings growth should resume from FY 2028 given new management's strategy. This view is supported by the acceleration of new client wins in the first two months of FY 2027, which the broker sees as encouraging. Overall, the broker believes it is a turnaround story under new leadership with material upside potential if it executes. The Corporate Travel Management share price ended the week at $2.46.
Life360 Inc. (ASX: 360)
A note out of Citi reveals that its analysts have retained their buy rating and $28.80 price target on this location technology company's shares. Citi was pleased to see Life360's app downloads accelerate to 8% growth year-on-year in August from flat growth in July. This was driven largely by its US business, which delivered a record month. Looking ahead, the broker believes Life360 is well-placed to deliver a marked improvement in its EBITDA margin in the fourth quarter. This is expected to be supported by seasonal advertising and hardware revenue. The Life360 share price was fetching $19.73 at Friday's close.
Metcash Ltd (ASX: MTS)
Analysts at Macquarie have upgraded this wholesale distributor's shares to an outperform rating with a $3.20 price target. According to the note, the broker was pleased with Metcash's trading update, highlighting that food sales were better than expected. And while its growth in the liquor segment was softer, it believes that the company is winning market share. Cost pressures are weighing on margins, but overall, Macquarie remains positive on the investment opportunity here and is recommending it to clients. The Metcash share price ended the week at $2.83.
