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It has been another busy week for Australia’s top brokers. This has led to the release of a large 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:
Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted their price target on this gaming technology company’s shares to $42.80. This is despite the release of a full year result that was slightly below its estimates. Goldman revealed that it remains positive on the company due to its top three spot in slot machine sales in the US, strong digital gaming offering, and launch into the growing iGaming market. The Aristocrat share price is trading at $36.50 this afternoon.
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $35.10 price target on this job listings giant’s shares. This follows the release of an update at the company’s annual general meeting which revealed that it is on course to achieve its revenue and earnings guidance for FY 2023. Credit Suisse was pleased with this and notes that the quality of Seek’s earnings is improving as it commands greater ad yields. The Seek share price is fetching $21.63 today.
Webjet Limited (ASX: WEB)
Analysts at Morgans have retained their add rating on this online travel agent’s shares with an increased price target of $7.20. According to the note, the broker was impressed with Webjet’s first half performance, noting that its result was ahead of expectations. Looking ahead, Morgans highlights that Webjet has plenty of market share to win over the coming years, which should underpin a strong earnings growth profile. Combined with higher margins and a much stronger balance sheet, it believes Webjet now deserves a PE rerating. The Webjet share price is trading at $6.09 on Friday.