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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AGL Energy Limited (ASX: AGL)
According to a note out of UBS, its analysts have retained their buy rating and $12.15 price target on this energy giant's shares. The broker was pleased to see AGL post a result in line with expectations in FY 2023. It also notes that the company has maintained its guidance for the year ahead. It is expecting AGL to deliver on this and double its earnings. The AGL share price is trading at $11.16 on Friday.
Cettire Ltd (ASX: CTT)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this online luxury retailer's shares with an improved price target of $4. This follows the release of an FY 2023 result that was ahead of expectations. Bell Potter also highlights that FY 2024 has started strongly and appears confident that the strong form can continue. Particularly given how it only commands a tiny share of a large and growing market. The Cettire share price was fetching $3.31 today.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Goldman Sachs have retained their buy rating on this insurance giant's shares with an improved price target of $18.09. Goldman was pleased with QBE's half-year results and notes that its margins were in line with expectations. The broker expects QBE to build on this solid half thanks to premium increases and volume growth. In light of this, it feels its valuation is undemanding at the current level. The QBE share price is trading at $15.46 this afternoon.
