Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

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It has been 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:

NextDC Ltd (ASX: NXT)

According to a note out of Macquarie, its analysts have retained their outperform rating on this data centre operator's shares with an improved price target of $20.00. Macquarie was pleased with the company's first-half result and appears confident the strong form can continue based on contracted utilisation. In addition, it sees artificial intelligence as a driver of demand in the future. The NextDC share price is trading at $16.95 on Friday.

Ramsay Health Care Ltd (ASX: RHC)

A note out of Morgans reveals that its analysts have retained their add rating on this private hospital operator's shares with an improved price target of $60.76. This follows the release of a better than expected half-year result this week. Morgans was also pleased to see that the company has reaffirmed its FY 2024 guidance for year on year earnings growth. The Ramsay Health Care share price is fetching $54.11 this afternoon.

Xero Ltd (ASX: XRO)

Analysts at Goldman Sachs have retained their buy rating on this cloud accounting platform provider's shares with an improved price target of $152.00. Goldman came away from Xero's inaugural investor day event feeling very positive. It highlights that Xero is increasingly positive on its financial outlook and has upgraded its use of the Rule of 40 from a useful measure to having a formal aspiration to deliver the rule of 40 or greater. The Xero share price is trading at $133.08 today.

Motley Fool contributor James Mickleboro has positions in Nextdc and Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Macquarie Group, and Xero. The Motley Fool Australia has positions in and has recommended Macquarie Group and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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