It has been another busy week for Australiaâs top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Hereâs why brokers think these ASX shares are in the buy zone:
Lifestyle Communities Ltd (ASX: LIC)
According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating on this retirement property companyâs shares with an improved price target of $27.15. Goldman highlights that Lifestyle Communities has a highly valuable business model. It also believes that recent share price weakness has created a compelling entry point for investors. The Lifestyle Communities share price is trading at $15.35 on Friday.
Temple & Webster Group Ltd (ASX: TPW)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $5.60 price target on this online furniture retailerâs shares. This follows news that the company is undertaking a $30 million on-market share buyback. Its analysts feel that this is a sign that its shares are undervalued at the current level. The Temple & Webster share price is fetching $3.30 this afternoon.
Xero Limited (ASX: XRO)
Analysts at Morgan Stanley have also retained their overweight rating on this cloud accounting platform providerâs shares with an improved price target of $100.00. The broker has been pleased with Xeroâs plan to cut its workforce to improve profitability. In light of this and its belief that the market is undervaluing its growth potential, Morgan Stanley sees Xero as a top option in the tech sector right now. The Xero share price is trading at $88.93 today.
The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Friday
- 3 ASX growth stocks down 40%-65% to buy now and hold
- Why Atlantic Lithium, Pushpay, St Barbara, and Temple & Webster shares are rising
- Temple & Webster share price higher on $30 million share buyback
- 7 ASX shares flying under the radar to buy now: Goldman Sachs
Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Temple & Webster Group and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Temple & Webster Group. 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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