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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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this gaming technology company's shares to $46.00. The broker notes that Aristocrat's analyst briefing revealed that it continues to perform in line with expectations in FY 2024. In addition, management gave a very positive update on the NFL poker machine launch. The Aristocrat share price ended the week at $40.69.
Flight Centre Travel Group Ltd (ASX: FLT)
A note out of Citi reveals that its analysts have retained their buy rating and $25.85 price target on this travel agent's shares. Citi believes that Flight Centre could be at the start of a major upgrade cycle. With international airline capacity and more complex trips returning, the broker sees a pathway to an 18 to 24 month upgrade cycle from the travel agent. The Flight Centre share price was fetching $19.66 on Friday.
Premier Investments Limited (ASX: PMV)
Analysts at Morgan Stanley have retained their overweight rating and $32.25 price target on this retailer's shares. The broker believes the market is too negative on Premier's margin outlook. It feels that if any temporary factors were boosting its profit margins, they would have unwound by now. As a result, the broker believes its strong margins are sustainable and appears to believe this will lead to the company outperforming expectations. The Premier Investments share price ended the week at $24.97.
