Many of Australia’s top brokers have been busy once again adjusting their estimates and recommendations. This has led to the release of a number of broker notes.
Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone:
Adore Beauty Group Ltd (ASX: ABY)
According to a note out of UBS, its analysts have retained their buy rating and $6.20 price target on this online beauty retailer’s shares. The broker has been looking into the industry and believes consumer purchasing intentions are supportive for Adore Beauty. Its research indicates that demand for skincare and haircare is strong. Outside this, the broker notes that the company has attractive growth opportunities. The Adore Beauty share price is fetching $4.97 this afternoon.
Regis Resources Limited (ASX: RRL)
Analysts at Morgans have retained their add rating but trimmed their price target on this gold miner’s shares to $4.01. According to the note, the broker is pleased with its plan to acquire a 30% stake in the Tropicana Gold Mine for $903 million from IGO Ltd (ASX: IGO). Morgans believes it will be transformational for its long term outlook, particularly given exploration opportunities at Tropicana. Not everyone is as convinced as Morgans, though. This afternoon the Regis Resources share price is down 14% to $2.71.
Webjet Limited (ASX: WEB)
A note out of Ord Minnett reveals that its analysts have retained their buy rating and lifted their price target on this online travel agent’s shares to $7.15. According to the note, the broker believes the company is well-positioned financially to strengthen its competitive position in the B2B segment. This is due to a number of its competitors struggling financially during the pandemic. The Webjet share price is trading at $5.28 on Thursday afternoon.
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More reading
- Why BrainChip, Regis Resources, Whitehaven, & Zip shares are tumbling lower
- ASX 200 flat: Zip raises $400m, Bank of Queensland results, Regis crashes
- Why the Regis Resources (ASX:RRL) share price is crashing 17% lower
- Why BWX, Fortescue, Webjet, & Zip shares are dropping
- 2 rapidly growing ASX shares to buy
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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