Top 3 ASX Shares to Buy on January 23, 2026
Australia’s financial landscape continues to shift, with significant activity among the nation’s brokers. This week, several top analysts released broker notes highlighting three ASX shares that currently have favorable buy ratings. Below, we explore these recommendations.
Top 3 ASX Shares to Buy on January 23, 2026
1. National Australia Bank Ltd (ASX: NAB)
UBS analysts have upgraded National Australia Bank to a buy rating, increasing its price target to $47.00. They assert that NAB has maintained its stronghold in business banking. This strategic positioning places NAB in a favorable spot to capitalize on growth in business lending. Currently, NAB shares are trading at $42.18, offering a potential upside for investors.
2. Netwealth Group Ltd (ASX: NWL)
Macquarie has also boosted its rating for Netwealth Group, now classifying it as an outperform with a revised price target of $32.40. This upgrade comes after the firm’s quarterly update, which showed net inflows surpassing expectations. However, the analysts noted a slight dip in EBITDA margin guidance, attributed to increased software investments. Despite this, Netwealth shares, now at $25.65, present a valuable opportunity according to Macquarie.
3. Northern Star Resources Ltd (ASX: NST)
Bell Potter has reaffirmed its buy rating on Northern Star Resources, with an increased price target of $31.10. Following its recent quarterly update, the firm expressed surprise at the negative market reaction to the results, which were largely anticipated. Bell Potter believes that the challenges faced by Northern Star are temporary and expects a rebound in performance in the second half of FY 2026. Currently, Northern Star shares are priced at $27.75.
Summary of Broker Recommendations
- National Australia Bank Ltd (ASX: NAB): Price Target – $47.00; Current Price – $42.18
- Netwealth Group Ltd (ASX: NWL): Price Target – $32.40; Current Price – $25.65
- Northern Star Resources Ltd (ASX: NST): Price Target – $31.10; Current Price – $27.75
These three ASX shares are positioned for potential growth in 2026, making them noteworthy additions for investors considering their options.
