It was another busy week for Australiaâs top brokers. This led to the release of a large number of broker notes.
Three ASX 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:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $339.00 price target on this biotherapeutics companyâs shares. Morgan Stanley notes that one of CSLâs rivals has reported a sharp reduction in its plasma collection costs. While the broker has not adjusted its estimates just yet, it points out that if CSL reported the same, its earnings could be higher than it is forecasting. The CSL share price ended the week at $306.36.
Coles Group Ltd (ASX: COL)
A note out of Citi reveals that its analysts have retained their buy rating and $20.20 price target on this supermarket giantâs shares. This follows an investor tour of the companyâs new Witron automated distribution centre at Redbank in Queensland. Citi was pleased with what it saw and expects the new centre to support more flexible range management and lower stock losses. It also sees opportunities for Coles to leverage the centre to provide a cost advantage over rivals. The Coles share price was fetching $18.21 on Friday.
Life360 Inc (ASX: 360)
Analysts at Bell Potter have retained their buy rating and $8.75 price target on this location technology companyâs shares. Ahead of the release of Life360âs first-quarter update, the broker appears to believe that a strong update could be coming. In fact, it is suggesting that Life360 could reveal that it has achieved positive cash flow ahead of expectations. The Life360 share price was trading at $5.82 at the end of the week.
The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has positions in CSL and Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Life360. The Motley Fool Australia has positions in and has recommended Coles 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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