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:
Endeavour Group Ltd (ASX: EDV)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $8.10 price target on this drinks company's shares. This follows news that the Tasmanian government intends to introduce a state-wide player card system to protect those most at risk of problem gambling. Goldman feels this will be immaterial to Endeavour's earnings and remains positive on its long term growth. This is being underpinned by its loyal customer base and focus on digitisation. The Endeavour share price is trading at $7.15 today.
Mineral Resources Limited (ASX: MIN)
A note out of UBS reveals that its analysts have retained their buy rating and $83.00 price target on this mining and mining services company's shares. UBS has been looking at the potential spin off of the company's lithium operations. Its analysts suspect that its lithium operations could trade at around 6x EBITDA on Wall Street, valuing the business at about A$17 billion. This compares to the current Mineral Resources market capitalisation of A$13 billion, which includes more than just its lithium operations. The Mineral Resources share price is fetching $67.75 this afternoon.
Westpac Banking Corp (ASX: WBC)
Analysts at Citi have retained their buy rating and lifted their price target on this banking giant's shares to $30.00. Citi has become even more positive on the bank thanks to rising rates and their unprecedented levels of liquidity. Its analysts are expecting this to boost its net interest margin meaningfully in FY 2023 and has upgraded their earnings estimates to reflect this. The Westpac share price is trading at $21.55.
