S&P/ASX 200 Index (ASX: XJO) shares had a strong day on Friday, rising 1.23% to close at 8,697.3 points.
The strong rise capped off a sluggish week for the local bourse, which lifted 0.73% over the five trading days.
ASX shares were depressed earlier in the week after the Reserve Bank confirmed what we all expected — a hold call on interest rates.
Meanwhile, the US Federal Reserve cut rates by 0.25% for the third time in four months to support a slowing economy.
Looking ahead to 2026, brokers are issuing notes on which ASX shares to buy for the new year.
Here are a few examples.
ASX shares to buy for 2026
IGO Ltd (ASX: IGO)
The IGO share price closed at $7.12, up 2% on Friday and up 46.5% in the year to date (YTD).
Macquarie says IGO shares are a buy and the company is its key pick in the lithium segment.
Improving lithium prices prompted Macquarie to upgrade its assumptions for IGO's earnings.
In a note last week, the broker said:
Incorporating updated commodity prices, FX and changes to our Kwinana costs assumptions drives 14-78% earnings uplift to FY26-FY28 while EPS are also increased by 1-6% for FY29 and FY30E.
Nufarm Ltd (ASX: NUF)
Nufarm is a chemical and seed-technology company with customers all over the world.
The Nufarm share price closed at $2.20, down 0.9% yesterday and down 39% in 2025.
Morgans has a buy rating on this ASX agriculture share.
Following the company's FY25 results, Morgans said:
While NUF's FY25 result was weak, it was slightly above guidance.
Now that there is certainty on Seed Technologies future, industry operating conditions have improved and there is a clear pathway to deleveraging the balance sheet, we upgrade NUF to a Buy recommendation and A$3.20 price target.
Morgans has a 12-month price target of $3.20 on Nufarm shares.
Ramsay Health Care Ltd (ASX: RHC)
The Ramsay Health Care share price closed at $35.48, up 0.31% on Friday and up 4% in the YTD.
Jabin Hallihan from Family Financial Solutions says this ASX financial share is a buy.
On The Bull, Hallihan said strong fundamentals and margin recovery supported long-term growth for the private hospital operator.
Ramsay's shares remain undervalued relative to our fair value estimate of $54, as we expect profitability to improve through higher indexation, digital efficiencies and easing wage pressures.
Capstone Copper Corp CDI (ASX: CSC)
The Capstone Copper share price closed at $14.93, up 3.7% yesterday and up 47% for the year.
Macquarie has a buy rating on the ASX copper share with a 12-month price target of $17.
In a note last week, the broker said Capstone is its preferred copper exposure.
The red metal's price has lifted 38% in the YTD amid increasing demand due to the clean energy transition.
The broker said:
We increase CSC EPS 9%/18% in CY25/26e due to Cu price upgrades, remaining our preference in the Cu space due to its strong organic growth profile and attractive relative value.
