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:
According to a note out of Bell Potter, its analysts have retained their buy rating on this sports technology solutions company's shares with an increased price target of $4.00. The broker has lifted its valuation in response to the re-rating of comparable tech peers to higher multiples. Bell Potter has lifted the multiple it applies in its EV/revenue valuation for Catapult from 4.75x to 5.5x. It notes that this is still short of some other ASX tech stocks with similar growth profiles. As a result, it feels that Catapult's shares look good value at current levels. The Catapult share price ended the week at $3.68.
A note out of Morgans reveals that its analysts have retained their add rating on this fashion jewellery retailer's shares with a trimmed price target of $36.00. Morgans highlights that Lovisa released a trading update at its recent annual general meeting. Although it concedes that Lovisa's store openings have been softer than it expected, it thinks investors should be patient, highlighting that its growth is rarely linear. In addition, the broker continues to see the company as having the potential to be one of the biggest success stories in Australian retail. As a result, it believes that recent share price weakness has created a buying opportunity for investors. The Lovisa share price was fetching $29.41 at Friday's close.
Analysts at Goldman Sachs have retained their buy rating on this online travel agent's shares with an improved price target of $1.10. According to the note, Goldman was pleased with Webjet's performance during the first half of FY 2025. It notes that its result was in line with expectations thanks to a strong performance from the key OTA business, which offset a softer than expected performance from the GoSee business. Goldman was also pleased to see that Webjet's OTA bookings, total transaction value, and revenue turned positive during the first seven weeks of the second half. In light of this, it remains positive on Webjet and sees plenty of value in its shares at current levels. The Webjet share price ended last week at 85 cents.
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