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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Argosy Minerals Limited (ASX: AGY)
According to a note out of Macquarie, its analysts have retained their outperform rating and 80 cents price target on this lithium developer's shares. Macquarie has been pleased with the progress the company is making with its Rincon lithium project in Argentina. It highlights that the steady run-rate production is expected to be achieved in the coming months. The Argosy Minerals share price is currently trading 50% lower than Macquarie's valuation at 40 cents.
Regis Resources Ltd (ASX: RRL)
A note out of Morgans reveals that its analysts have upgraded this gold miner's shares to an add rating with an improved price target of $2.51. Although Regis delivered a third-quarter update that was short of the broker's expectations, it is sticking with it. This is due to its improving outlook thanks partly to the McPhillamys approval. In addition, Morgans views potential consolidation activity in the large-cap gold domain and the organic growth opportunity offered by Regis favourably. The Regis Resources share price is fetching $2.13 today.
Telstra Group Ltd (ASX: TLS)
Another note out of Macquarie reveals that its analysts have retained their outperform rating on this telco giant's shares with an improved price target of $4.68. This follows news that Telstra has lifted some of its mobile prices. The broker was pleased with the news and sees rational pricing as a big positive for Telstra. In fact, it suspects that the company could be on course to deliver stronger than expected earnings in the coming years because of this. The Telstra share price is trading at $4.37 on Friday.
