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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Australia and New Zealand Banking Group Ltd (ASX: ANZ)
According to a note out of Citi, its analysts have retained their buy rating on this bank's shares with an improved price target of $29.25. This follows the release of the banking giant's full year results, which were stronger than it was expecting. And while Citi acknowledges that ANZ's costs guidance has spooked investors, it remains positive and expects consensus estimates to increase to reflect its stronger net interest margin. The ANZ share price is trading at $25.24 today.
Domino's Pizza Enterprises Ltd (ASX: DMP)
A note out of Morgans reveals that its analysts have retained their add rating with a slightly trimmed price target of $88.00. The broker has reduced its earnings estimates slightly for the coming years to reflect cost inflation and other factors. However, it feels these headwinds will be temporary and remains very bullish on the company's long term growth thanks to its store rollout plans. The Domino's share price is fetching $61.73 on Friday afternoon.
Super Retail Group Ltd (ASX: SUL)
Analysts at Goldman Sachs have retained their buy rating on this retailer's shares with an improved price target of $13.90. This follows the release of a trading update which revealed that Super Retail's sales were up 20% during the first 16 weeks of FY 2023. Goldman was pleased with this update and appears confident its solid form will continue during the Christmas trading period. So, at less than 10x forward earnings, the broker feels its shares are great value at the current level. The Super Retail share price is trading at $10.01 on Friday.
