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:
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CSL Ltd (ASX: CSL)
According to a note out of Macquarie, its analysts have retained their outperform rating on this biotechnology company's shares with a trimmed price target of $295.90. Macquarie points out that CSL delivered a full year result that was short of expectations in FY 2025. This was due to the underperformance of the key CSL Behring business. While this was disappointing, Macquarie thinks the selloff has been an overreaction. And even after the broker reduced its earnings estimates, it believes the company's shares are trading on an undemanding valuation at 20x earnings and with earnings per share growth of ~10%. As a result, it thinks investors should be buying the pullback. The CSL share price ended the week at $216.60.
James Hardie Industries plc (ASX: JHX)
Another note out of Macquarie reveals that its analysts have retained their outperform rating on this building products company's shares with a reduced price target of $36.90. This follows the release of a first quarter update which was materially below expectations. Macquarie notes that a rapid reversal in market conditions and inventory indigestion have combined to see the company reduce its FY 2026 guidance sharply. However, it remains positive. Macquarie acknowledges that market conditions are tough, but thinks an evolving AZEK integration story, a slow bottoming of markets, and another material price correction are in support of a reassessment. It also believes that balance sheet risks are elevated, but manageable. The James Hardie share price was fetching $30.50 at Friday's close.
Temple & Webster Group Ltd (ASX: TPW)
Analysts at Citi have retained their buy rating on this online furniture and homewares retailer's shares with an improved price target of $34.32. According to the note, Citi was pleased with Temple & Webster's performance in FY 2025, noting that its EBITDA came in ahead of expectations. The broker also highlights that the company's sales has been growing strongly so far in FY 2026, which bodes well for the full year. Looking ahead, Citi believes that Temple & Webster is a growth and operating leverage story and is expecting strong margin expansion in the future. The Temple & Webster share price ended the week at $23.45.
