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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Healius Ltd (ASX: HLS)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and $5.50 price target on this healthcare company's shares. Credit Suisse was impressed with the company's performance during the first quarter. It notes that its earnings almost reached the consensus first half estimate in just the three months. And while its analysts acknowledge that COVID testing won't be in demand forever, it feels the market may be underestimating medium term demand. The Healius share price is trading at $4.98 today.
Megaport Ltd (ASX: MP1)
A note out of Citi reveals that its analysts have retained their buy rating and $20.00 price target on this network as a service company's shares. This follows the release of Megaport's quarterly update this week. Citi notes that Megaport's monthly recurring revenue (MRR) growth was strong but that its port adds were 30% softer than expected. Nevertheless, it remains buy-rated as it expects strong growth going forward driven by structural tailwinds. The Megaport share price is fetching $17.47 on Friday.
Macquarie Group Ltd (ASX: MQG)
Analysts at Morgan Stanley have retained their overweight rating and $240.00 price target on this investment bank's shares. According to the note, Morgan Stanley believes the Macquarie share price deserves to trade on higher multiples due to its green credentials. The broker notes that its green revenues are growing rapidly at a time when demand for green investments is increasing. In addition, the broker believes there are a lot of unrealised gains to be found across existing investments. The Macquarie share price is trading at $197.80 today.
