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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BlueBet Holdings Ltd (ASX: BBT)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this sports betting company's shares to $2.60. The broker made the move in response to the release of a stronger than expected first quarter update. In addition, Morgans believes that management's first half guidance is conservative and expects its Australian business to continue winning market share. The BlueBet share price is trading at $1.99 today.
Corporate Travel Management Ltd (ASX: CTD)
A note out of Citi reveals that its analysts have retained their buy rating and lifted their price target on this corporate travel management company's shares to $27.78. In response to the company's first quarter update, the broker has increased its revenue and earnings estimates for FY 2022. It also feels Corporate Travel Management is likely to be trading ahead of consensus forecasts at present thanks to an uptick in activity levels across all regions. The Corporate Travel Management share price is fetching $24.62 today.
Pointsbet Holdings Ltd (ASX: PBH)
Analysts at Credit Suisse have retained their outperform rating but cut their price target on this sports betting company's shares to $12.80. This follows the release of a softer than expected first quarter update. Nevertheless, Credit Suisse remains positive on the company's future and continues to believe it can win a 10% share of the US market. The PointsBet share price is trading at $8.25 on Friday afternoon.
