It was another busy week for Australia's top brokers. This led to the release of a large number of broker notes.
Three ASX 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:
ANZ Group Holdings Ltd (ASX: ANZ)
According to a note out of Goldman Sachs, its analysts have upgraded this banking giant's shares to a conviction buy rating with a $27.38 price target. The broker believes that ANZ is the best big four bank to buy now. This is based on its confidence in the sustainability of ANZ's improvement in its Institutional returns. The ANZ share price ended the week at $23.71.
Corporate Travel Management Ltd (ASX: CTD)
A note out of UBS reveals that its analysts have retained their buy rating and $25.95 price target on this corporate travel booker's shares. This follows news that the company has been awarded the Travel Management Services contract for the Whole of Australian Government for an initial 4-year term. UBS was pleased with the news and expects it to support solid growth in the coming years. It also feels confident that the company will achieve its guidance in FY 2023. The Corporate Travel Management share price ended the week at $17.89.
TechnologyOne Ltd (ASX: TNE)
Analysts at Goldman Sachs have also upgraded this enterprise software provider's shares to a buy rating with an $18.30 price target. Goldman believes that TechnologyOne's shares are attractively priced at current levels. This is due to its dominant market position, defensive end markets, and mission-critical systems. It feels these qualities are deserving of a premium valuation. The TechnologyOne share price ended the week at $15.65.
