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:
Image Source: Getty Images
Maas Group Holdings Ltd (ASX: MGH)
According to a note out of Morgans, its analysts have upgraded this construction materials, equipment and service provider's shares to a buy rating with a $5.10 price target. This follows news that Maas has agreed to sell its construction materials (CM) division, pivoting the business to focus on digital, AI, and electrification infrastructure. Morgans highlights that the sale and a $100 million investment from Firmus will leave Maas with a $550 million cash balance, which management believes it can reinvest to deliver a 20% return on capital (ROC). Overall, at the current valuation, Morgans believes there is a meaningful margin of safety for investors. The Maas share price is trading at $3.99 on Friday.
NextDC Ltd (ASX: NXT)
A note out of Macquarie reveals that its analysts have retained their outperform rating and $22.30 price target on this data centre operator's shares. The broker highlights that Singtel and KKR have acquired ST Telemedia Global Data Centres for approximately S$13.8 billion ($15.5 billion). It estimates that this represents a 20x EV/EBITDA multiple, which is significantly greater than its 14.8x estimate for NextDC. In light of this, the broker continues to believe that NextDC shares are undervalued at current levels, making now an opportune time for investors to open positions. The NextDC share price is fetching $12.70 at the time of writing.
Nufarm Ltd (ASX: NUF)
Analysts at Bell Potter have retained their buy rating and $3.60 price target on this agricultural chemicals company's shares. According to the note, the broker was pleased with Nufarm's annual general meeting presentation. It highlights that management's comments were positive and point to a strong year. In addition, Bell Potter points out that Nufarm's shares continue to trade at a material discount to global peers despite favourable indicators for omega-3 returns in FY 2026 and demand indicators in the higher margin northern hemisphere crop protection markets looking generally supportive. The Nufarm share price is trading at $2.13 this afternoon.
