With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Brambles Limited (ASX: BXB)
According to a note out of UBS, its analysts have upgraded this supply chain logistics company’s shares to a buy rating with an improved price target of $13.30. UBS believes that Brambles is well-positioned to benefit from current supply chain conditions. The broker expects the company to be able to lift prices beyond inflation due to a lack of availability of pallets. The Brambles share price is fetching $10.58 on Tuesday.
Life360 Inc (ASX: 360)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $10.50 price target on this app maker’s shares. The broker has been looking at app download data for the company’s increasingly popular Life360 app. That data reveals that downloads are up 71% over the year. Morgan Stanley believes this puts the company on track to deliver on its expectations this year. The Life360 share price is trading at $8.34 this afternoon.
Uniti Group Ltd (ASX: UWL)
Analysts at Bell Potter have upgraded this internet provider’s shares to a buy rating with a $4.50 price target. According to the note, the broker made the move largely on valuation grounds after some recent weakness in the Uniti share price. Its analysts believe the company’s shares are good value considering its strong growth prospects. Bell Potter expects underlying EBITDA of $146.3 million in FY 2022. This represents a 56% year on year increase and is expected to be driven by a mix of organic growth and full 12-month contributions from acquisitions. The Uniti share price is fetching $3.73 today.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. The Motley Fool Australia has recommended Uniti Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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