It was another busy week for Australia's top brokers, with a number of new research notes being released.
Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares could be worth buying:
Image source: Getty Images
Breville Group Ltd (ASX: BRG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $38.00 price target on this kitchen appliances company's shares. The broker was encouraged by Breville's recent annual general meeting update, which revealed a solid start to FY 2027. It notes that management highlighted resilient demand for premium products, with coffee machines continuing to perform well. Morgan Stanley was also pleased with the early performance of new products and Breville's expansion into international markets, including China. Looking ahead, the broker expects currency pressures to ease and believes management is well equipped to handle the logistical challenges facing the business. The Breville share price ended the week at $32.95.
Goodman Group (ASX: GMG)
A note out of Morgans reveals that its analysts have upgraded this industrial property giant's shares to a buy rating with an unchanged $33.20 price target. The upgrade follows Goodman's first-quarter update, which reaffirmed guidance for 9% operating earnings per share growth in FY 2027. Morgans highlights that the company's development pipeline remains substantial at $19.7 billion, with data centres accounting for 79% of projects underway. Its global power bank has also grown to 6.6 gigawatts, providing valuable access to electricity for future developments. While Goodman didn't announce any new data centre leases during the quarter, Morgans believes this is a timing issue, noting that three projects are in advanced negotiations. With the shares trading on approximately 18 times forward earnings, compared with a long-term average of 24 times, the broker sees an attractive buying opportunity. The Goodman share price ended the week at $27.84.
National Australia Bank Ltd (ASX: NAB)
Analysts at UBS have retained their buy rating on this banking giant's shares with a reduced price target of $45.00. This follows NAB's FY 2026 results, which were slightly below expectations due largely to higher credit impairment charges. The broker highlights that additional provisions in the bank's business and retail lending operations have weighed on its near-term earnings outlook. As a result, UBS has lowered its earnings forecasts for FY 2027 through to FY 2029. However, the broker remains encouraged by the bank's resilient margins and continued growth in business lending and deposits. It also expects productivity improvements to help reduce operating costs over time. UBS is forecasting a dividend of $1.71 per share in FY 2027, representing a dividend yield of approximately 4.3%. This brings the total potential return to approximately 17%. The NAB share price ended the week at $40.00.
