Image source: Getty Images Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week. Three broker buy ratings that have caught my eye are summarised below. Here’s why brokers think these ASX shares are in the buy zone: According to a note out of Morgan Stanley, its analysts have upgraded this steel producer’s shares to an overweight rating with an improved price target of $27.00. The broker made the move on the belief that current steel spreads will lead to consensus earnings upgrades and put the company in a position to consider capital management initiatives. In response to the favourable trading conditions, Morgan Stanley has upgraded its earnings forecasts materially for the coming years. The BlueScope share price is fetching $21.49 today.