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:
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Harvey Norman Holdings Limited (ASX: HVN)
According to a note out of Citi, its analysts have retained their buy rating and $4.70 price target on this retail giant's shares. This follows the release of a full year result that came in slightly ahead of expectations. Citi was also pleased to see that household spending appears to be holding up. In light of this and the big discount its shares are trading at compared to the market, the broker thinks now could be time to buy. The Harvey Norman share price is trading at $4.17 today.
Macquarie Group Ltd (ASX: MQG)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and lifted their price target on this investment bank's shares to $231.00. Morgan Stanley has upgraded its earnings estimates for FY 2023 to reflect favourable trading conditions. It is expecting some upbeat commentary at the company's next quarterly update. The Macquarie share price is currently fetching $176.51.
Webjet Limited (ASX: WEB)
Analysts at Morgans have retained their add rating but trimmed their price target on this online travel agent's shares slightly to $6.40. Morgans was pleased with Webjet's trading update and highlights the strong recovery by the WebBeds business. It feels this means the company is on course to deliver earnings ahead of pre-COVID levels in FY 2024. Particularly given its materially lower cost base, consolidated systems, and large business in the US. The Webjet share price is trading at $5.38 on Friday.
