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:
Image source: Getty Images
Fortescue Ltd (ASX: FMG)
According to a note out of Ord Minnett, its analysts have retained their buy rating and $20.00 price target on this iron ore miner's shares. Ord Minnett was pleased with the company's fourth quarter update last month, highlighting that the miner outperformed expectations on all key metrics including shipments and costs. In addition, the broker was pleased with its guidance for the year ahead. It notes that its FY 2026 shipments guidance was in line with expectations, whereas its cost guidance was better than expected. As a result, Ord Minnett remains positive and feels that its shares are good value at current levels. The Fortescue share price ended the week at $18.35.
Goodman Group (ASX: GMG)
A note out of Bell Potter reveals that its analysts have initiated coverage on this industrial property giant's shares with a buy rating and $39.35 price target. Bell Potter believes Goodman has a strong long-term growth pathway. This is thanks to its best-in-class management team and transition to data centres. And while the broker concedes that the transition comes with a greater risk profile, it feels that the rewards will make it worth it. Bell Potter highlights that the outlook for data centres over the medium to long term is positive. It notes that this is being driven by a 15% three-year CAGR baseload compute and AI demand workload increase, high barriers to entry, and leverage to hyperscaler capex expansion and structural tailwinds. And with Goodman's shares trading at a discount to historical multiples, Bell Potter thinks that now could be a good time to invest. The Goodman share price was fetching $34.84 at Friday's close.
WiseTech Global Ltd (ASX: WTC)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this logistics solutions technology company's shares with an increased price target of $135.00. The broker believes that WiseTech Global will deliver a result in line with its guidance next month. In addition, it feels that there is limited risk of the company disappointing with its guidance for FY 2026. As for its valuation, Bell Potter thinks that its shares deserve to trade on higher FY 2026 EV/EBITDA multiples and PE ratios than peers. This is due to its superior growth outlook. The WiseTech Global share price ended the week at $120.16.
