Broker looking at the share price.

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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:

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. Macquarie sees significant share price weakness since the release of AGL’s FY 2025 results as a buying opportunity for investors. It highlights that its shares are now trading at approximately 9 times earnings. This is notably lower than both historical multiples for its shares and also the average among its peers. In addition, the broker notes that AGL’s shares offer an above average dividend yield, which it believes is at a sustainable level. Particularly given its belief that the company’s earnings are going to be higher quality in the coming years. The AGL share price was trading at $8.47 at Friday’s close.

Goodman Group (ASX: GMG)

A note out of Citi reveals that its analysts have retained their buy rating and $40.00 price target on this industrial property company’s shares. The broker notes that falling cap rates are boosting valuations and balance sheets in the industry. And while further interest rate cuts are not guaranteed, it remains very positive on Goodman. This is due partly to favourable supply-demand dynamics and its strategically placed assets. As a result, it is one the broker’s top picks in the sector right now. Outside this, Citi recently stated that it thinks Goodman’s guidance for FY 2026 is likely to prove conservative. In light of this, it expects the company to outperform its 9% growth target. Particularly given its valuable underlying data centre pipeline. The Goodman share price ended the week at $34.37.

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 an improved price target of $37.20. Although Macquarie acknowledges that James Hardie’s balance sheet is in a poor state and represents a material risk, it remains constructive on its investment thesis. The broker highlights that its shares have corrected materially. But with its earnings base well below mid-cycle, it sees now as an opportune time to invest. Especially given its belief that monetary policy support could prove a key catalyst, while alignment should improve from here. The James Hardie share price was fetching $30.14 at the end of the week.