It has been another busy week for many of 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 right now:
AGL Energy Limited (ASX: AGL)
According to a note out of Macquarie, its analysts have retained their outperform rating on this energy giant's shares with an improved price target of $11.00. The broker believes that significant share price weakness since the release of its FY 2025 results has created a buying opportunity for investors. Especially now its shares are trading at almost 9x earnings, which is notably lower than both historical multiples and the average among peers. Another positive is the above average dividend yield on offer with AGL's shares, which Macquarie believes is sustainable at current levels. Particularly given its belief that the company's earnings are going to be better quality in the coming years. The AGL share price was fetching $8.47 on Friday.
Seek Ltd (ASX: SEK)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $32.50 price target on this job listings company's shares. The broker was pleased with the company's performance in FY 2025 and feels that its start to FY 2026 is supportive of its positive view on the stock. It also notes that the market appears to be underestimating its ability to achieve double digit growth. Morgan Stanley is expecting 11% revenue growth and for operating leverage to underpin 19% EBITDA growth and 25% earnings per share growth in FY 2026. It notes that this makes its medium term growth rate stronger than peers. The Seek share price ended the week at $28.00.
Select Harvests Ltd (ASX: SHV)
Analysts at Bell Potter have retained their buy rating on this almond producer's shares with an improved price target of $5.45. According to the note, the broker believes that the market is undervaluing the company's shares. Especially given how almond prices have rebounded strongly recently. And with its costs remaining in line with expectations, Bell Potter is expecting strong earnings from Select Harvests. In addition, it highlights that the long-term under development of orchards in California implies a period of limited supply expansion potential, which it views as a positive for the direction of future almond pricing trends. So, with its shares trading at ~5.9x estimated FY 2026 "spot price" EBITDA, it feels its valuation is undemanding, particularly if pricing continues to firm. The Select Harvests share price closed Friday's session at $4.27.
