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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Computershare Ltd (ASX: CPU)
According to a note out of Morgans, its analysts have retained their add rating and lifted their price target on this administration services company's shares to $28.93. The broker made the move after Computershare agreed to sell its US Mortgage Services Business for US$720 million. Morgans was pleased with the decision and believes a reasonable price was received. Its analysts think the returned capital will be better deployed in a more value-accretive way elsewhere. The Computershare share price ended the week at $25.70.
Core Lithium Ltd (ASX: CXO)
A note out of Macquarie reveals that its analysts have retained their outperform rating and 65 cents price target on this lithium miner's shares. This follows the release of the company's FY 2023 results, which revealed a surprise maiden profit. The broker was pleased because it was expecting Core Lithium to post a loss for the year. It was also happy to see management reaffirm its guidance for FY 2024. The Core Lithium share price was fetching at 35 cents today.
IPH Ltd (ASX: IPH)
Analysts at Goldman Sachs have upgraded this intellectual property company's shares to a buy rating and lifted their price target to $8.75. The broker made the move for four reasons. One of these is that its defensive business model is insulated from economic cycles and has a solid growth outlook underpinned by modest organic growth and M&A consolidation. The IPH share price ended the week at $7.45.
