Top brokers name 3 ASX shares to buy today

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Carsales.Com Ltd (ASX: CAR)

According to a note out of Morgan Stanley, its analysts have retained their overweight rating on this auto listings company’s shares with an improved price target of $27.00. Morgan Stanley was pleased with the company’s decision to increase its stake in Brazil’s Webmotors. Particularly given the strength of the global car market in tough times. The Carsales share price is trading at $21.95 this afternoon.

Life360 Inc (ASX: 360)

A note out of Goldman Sachs reveals that its analysts have reiterated their buy rating and $7.90 price target on this location technology company’s shares. Goldman believes that Life360’s shares are materially undervalued given its resilient business model and strong growth outlook. Its analysts continue to believe that an inflection point is coming, with Life360 expecting to be profitable this year. The Life360 share price is fetching $5.20 on Wednesday.

New Hope Corporation Limited (ASX: NHC)

Analysts at Morgans have retained their add rating on this coal miner’s shares with a trimmed price target of $6.65. While the broker acknowledges that New Hope’s interim dividend could disappoint next month, it believes this is due to coal miners conserving cash for potential M&A activity. Nevertheless, it still expects a full-year dividend of $1.10 per share, which represents a massive 19% yield for investors. The New Hope share price is trading at $5.33 today.

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

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More reading

• Why Atlantic Lithium, Life360, Neuren, and Whitehaven Coal shares are charging higher
• This ASX 200 tech share is ‘materially undervalued’: Goldman Sachs
• Analysts warn of future earnings downgrades for ASX 200 coal shares
• 3 ASX 200 coal shares to buy for big gains and huge yields: Morgans
• These ASX tech shares are buys: Goldman Sachs

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has recommended Carsales.com. 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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