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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Endeavour Group Ltd (ASX: EDV)
According to a note out of Goldman Sachs, its analysts have reiterated their conviction buy rating on this drinks company's shares with a price target of $6.60. The broker believes that Endeavour represents the most attractively priced consumer staples stock on the Australian share market. It also likes the company due to its defensive earnings and huge My Dan's loyalty program. The Endeavour share price ended the week at $5.26.
Qantas Airways Limited (ASX: QAN)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $9 price target on this airline operator's shares. While the broker was a touch surprised by Alan Joyce's early exit as CEO, it doesn't change anything for its analysts. Morgan Stanley points out the transition has been flagged for some time. The broker also appears optimistic that Joyce's exit could help end the recent negative press that has been weighing on sentiment. The Qantas share price was fetching $5.54 at Friday's close.
Santos Ltd (ASX: STO)
Analysts at Citi have retained their buy rating and $9 price target on this energy producer's shares. This follows news that Santos has agreed to sell 2.6% of PNG LNG to Kumul. Citi doesn't believe the deals will end there. It expects Santos to open a data room and sell upwards of 10% of PNG LNG in total. Pleasingly, as this is a tier 1 asset, it feels it should garner material interest at a time when bid-ask spreads have narrowed in the industry. The Santos share price ended the week at $7.78.
