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 that leading brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
AGL Energy Limited (ASX: AGL)
According to a note out of Macquarie, its analysts have resumed coverage on this energy companyâs shares with an outperform rating and $8.31 price target. The broker believes that AGLâs shares are materially undervalued at the current level. Particularly given the companyâs positive exposure to higher electricity prices. The AGL share price is trading at $7.10 this afternoon.
Allkem Ltd (ASX: AKE)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $15.40 price target on this lithium minerâs shares. Although spot lithium prices continue to weaken, Goldman holds firm with its buy rating. Thatâs because it believes Allkemâs production growth and downstream optionality will offset this and underpin strong earnings in the coming years. The Allkem share price is fetching $10.26 at the time of writing.
Life360 Inc (ASX: 360)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $7.85 price target on this location technology companyâs shares. This follows the release of a full-year result which ticked all the boxes for the broker. Outside this, the broker believes the market is underappreciating the companyâs significant earnings growth potential. The Life360 share price is trading at $4.76 on Monday afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Should I buy AGL shares at under $7 each?
- 5 things to watch on the ASX 200 on Monday
- Life360 share price higher on 100% revenue surge
- 3 ASX All Ords tech shares rebounding strongly from the SVB fallout (and 2 still tumbling)
- Top brokers name 3 ASX shares to buy today
Motley Fool contributor James Mickleboro has positions in Allkem and Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. 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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