Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three buy ratings that have caught my eye are summarised below. Here's why brokers think these ASX shares are in the buy zone:
Collins Foods Ltd (ASX: CKF)
According to a note out of UBS, its analysts have retained their buy rating and lifted the price target on this quick service restaurant operator's shares to $8.75 following its full year results release. UBS was pleased with the company's results and its further expansion onto aggregator platforms for home delivery. In addition to this, it sees growth opportunities for the Taco Bell brand and is optimistic on its European operations. I agree with UBS on Collins Foods and believe it would be a great option for investors.
Sandfire Resources NL (ASX: SFR)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $8.00 price target on this copper producer's shares following the announcement of its plan to acquire MOD Resources Ltd (ASX: MOD). The broker was not surprised with the deal and continues to see a lot of value in its shares after a pullback over the last 12 months. Whilst it wouldn't be my first pick in the resources sector, I agree that its shares look good value at the current level.
Whispir Limited (ASX: WSP)
Analysts at Ord Minnett have initiated coverage on this newly-listed cloud-based communications platform provider's shares with a buy rating and $2.00 price target. According to the note, the broker appears to see a lot of potential for Whispir's products and notes that this is validated by the large number of blue chip companies that it counts as customers. These include AGL Energy Limited (ASX: AGL), Foxtel, and Virgin Australia Holdings Ltd (ASX: VAH). I think Whispir is an exciting company and well-worth keeping a very close eye on. Ord Minnett was the underwriter to the company's oversubscribed $47 million initial public offering.
