It was another busy week for Australia's top brokers. This has led to the release of a 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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Boss Energy Ltd (ASX: BOE)
According to a note out of Citi, its analysts have commenced coverage on this uranium producer's shares with a buy rating and $3.40 price target. The broker believes that Boss Energy's shares have been oversold when compared to recent uranium price movements. And with the broker expecting that prices could soon be heading meaningfully higher, it thinks now is the time to pounce. Its bullish view on uranium is based on a potential global supply deficit at a time when nuclear energy is expected to play a key role in the global energy transition and the artificial intelligence megatrend. The Boss Energy share price was trading at $2.58 on Friday.
Harvey Norman Holdings Limited (ASX: HVN)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $5.80 price target on this retail giant's shares. The broker was pleased with the retailer's recent trading update and believes it supports its view that solid earnings growth will be achieved in FY 2025. Outside this, Bell Potter believes Harvey Norman has sizeable upside from the AI driven upgrade cycle/replacement cycle of devices purchased during the COVID-peak. Its analysts also highlight that Harvey Norman is supported by exclusive access from brands/chip manufacturers given large format stores globally, which are attractive to global technology brands/suppliers when launching new products. The Harvey Norman share price was fetching $4.83 at Friday's close.
WiseTech Global Ltd (ASX: WTC)
Analysts at Macquarie have retained their outperform rating and $152.70 price target on this logistics solutions technology company's shares. According to the note, the broker was pleased with what it saw at the company's investor day event last week. It highlights that while the short term delay of a key product launch will weigh on profits this year, it doesn't change anything on a longer term view. The broker also points out that the quality of its products and its development pipeline is very high and is expected to drive strong growth in the future. Especially with its founder CEO, Richard White, stepping down into a role that allows him to focus almost entirely on product development. The WiseTech Global share price ended the week at $131.37.
