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 have caught my eye are summarised below. Here's why brokers think these ASX shares are in the buy zone:
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Goodman Group (ASX: GMG)
According to a note out of Citi, its analysts have retained their buy rating and $26.00 price target on this commercial property company's shares. This follows the release of a full year result ahead of both the market and Citi's expectations. This was driven by higher investment income and lower interest expense/tax. And while its guidance for FY 2022 was lower than expectations, the broker sees upside risk to this guidance. The Goodman share price is trading at $22.82 today.
National Australia Bank Ltd (ASX: NAB)
A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this banking giant's shares to $29.00. Macquarie was pleased with the bank's third quarter update and notes that it is managing its margins much better than its rivals. It has also been pleased with its market share gains in lending. The NAB share price is fetching $27.64 on Friday afternoon.
Telstra Corporation Ltd (ASX: TLS)
Analysts at Morgans have retained their add rating and lifted their price target on this telco giant's shares to $4.34. According to the note, the broker was pleased with Telstra's FY 2021 results and particularly the performance of its mobile business. Looking ahead, it is very positive on the company's future due to improving industry dynamics, its return to growth, and its valuation. In respect to the latter, it believes its current share price is less than the sum of its parts. The Telstra share price is trading at $3.95 today.
