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:
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Allkem Ltd (ASX: AKE)
According to a note out of Macquarie, its analysts have retained their outperform rating on this lithium miner's shares with an improved price target of $19.10. Macquarie was pleased to see that Allkem has delivered its first production from Olaroz stage two. Combined with other developments and a lower risk profile, this has led to the broker boosting its valuation. The Allkem share price was trading at $15.95 at Friday's close.
Endeavour Group Ltd (ASX: EDV)
Analysts at Goldman Sachs have retained their buy rating and $7.50 price target on this drinks company's shares. Goldman remains positive on Endeavour despite news that the Victorian state government is planning to make big changes to poker machine laws. While the broker acknowledges that this is a negative, it believes it is already captured in its risk-adjusted valuation. In light of this, Goldman continues to see a lot of value in its shares. The Endeavour share price was fetching $6.05 on Friday.
Flight Centre Travel Group Ltd (ASX: FLT)
A note out of Morgans reveals that its analysts have retained their add rating on this travel agent's shares with an improved price target of $26.40. This follows news that Flight Centre has upgraded its earnings guidance again for FY 2023. Morgans highlights that its new guidance was well ahead of consensus estimates and will mean a huge turnaround year on year. Pleasingly, the broker suspects that this upgrade cycle could continue. The Flight Centre share price ended the week at $22.14.
