Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
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 Morgan Stanley, its analysts have retained their overweight rating and $8.35 price target on this online beauty retailer’s shares. The broker was pleased with its trading update and notes that management has upgraded its guidance for the first half. And while it is keen to see whether this was at the expense of margin, it doesn’t think this is the worst idea if it was. The broker…