Top brokers name 3 ASX shares to buy next week

Once again, it was a busy week for Australia's top brokers. This has led to a number of broker 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 are in the buy zone:

Deterra Royalties Ltd (ASX: DRR)

According to a note out of Morgans, its analysts have retained their buy rating on this mining royalties company's shares with a trimmed price target of $4.75. This follows news that Deterra has announced the acquisition of a royalty on ~84% of Ivanhoe Electric's Santa Cruz copper project for US$74.15 million in cash. Morgans values the Santa Cruz royalty at A$110 million or A$0.21 per share and expects it to be around 7% earnings accretive. Outside this, the broker sees Deterra Royalties as a formidable inflation hedge with upside leverage to metal prices. The Deterra Royalties share price ended the week at $3.92.

Megaport Ltd (ASX: MP1)

Another note out of Morgans reveals that its analysts have retained their buy rating on this cloud infrastructure company's shares with an improved price target of $27.00. The broker made the move in response to Megaport lifting its FY 2027 EBITDA guidance by 25% following further contract wins. Morgans highlights that Megaport's compute and network businesses continue to deliver above expectations, with three new AI infrastructure contracts boasting a total contract value of around $1 billion. Collectively, it believes these set a path for annualised EBITDA in excess of $850 million, which has led to a material increase in Morgans' earnings per share forecasts. The Megaport share price was fetching $18.78 at Friday's close.

Mesoblast Ltd (ASX: MSB)

Analysts at Bell Potter have retained their buy rating and $4.45 price target on this biotechnology company's shares. According to the note, the broker has described Mesoblast as an enigma for most Australian long only institutions. This is despite having achieved multiple clinical trial successes, product approvals, and having revenues likely to exceed US$200 million in FY 2027. However, Bell Potter expects this information gap to close over the coming year as the company delivers on additional wins in the clinic. As a result, the broker sees now as a great time to snap up the company's shares. The Mesoblast share price ended the week at $2.00.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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