Leading brokers name 3 ASX shares to buy today

ASX shares Business man marking buy on board and underlining it

ASX shares Business man marking buy on board and underlining it

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. Here’s why they are bullish on them:

ANZ Group Holdings Ltd (ASX: ANZ)

According to a note out of Citi, its analysts have retained their buy rating on this banking giant’s shares with a trimmed price target of $26.50. Citi notes that ANZ delivered a result in line with expectations. And while the broker has lowered its margin assumptions, it sees ANZ’s unique capabilities as set to deliver relative outperformance in the current market conditions. The ANZ share price is trading at $23.83 on Monday.

Iluka Resources Limited (ASX: ILU)

A note out of Macquarie reveals that its analysts have upgraded this mineral sands producer’s shares to an outperform rating with a $12.30 price target. The broker was pleased with Iluka’s recent production update and sees value in its shares at current levels. The Iluka share price was fetching $11.54 today.

Life360 Inc (ASX: 360)

Analysts at Bell Potter have retained their buy rating and $8.75 price target on this location technology company’s shares. Bell Potter is feeling very positive ahead of Life360’s first-quarter results. In fact, the broker suspects that the company could be performing so well that it surprises the market by revealing that it achieved positive cash flow in April. The Life360 share price is trading at $5.46 this afternoon.

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

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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 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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