Brokers name 3 ASX shares to buy now

It has been another busy week for Australia’s top brokers. This has led to the release of a number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Life360 Inc (ASX: 360)

According to a note out of Morgan Stanley, its analysts have retained their buy rating and $11.50 price target on this location technology company’s shares. Morgan Stanley is expecting a strong result from the company during earnings season. In fact, it believes that there’s potential for Life360 to outperform consensus estimates and catalyse a re-rating of its shares. The Life360 share price is trading at $7.76 on Friday.

REA Group Ltd (ASX: REA)

A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this property listings company’s shares with a trimmed price target of $201.00. This follows the release of a solid half year result this week. Following the result and management’s commentary, Goldman believes that REA’s revenue outlook remains very positive. In light of this, it feels its shares have one of the best risk/reward profiles in its domestic media coverage. The REA share price is fetching $180.25 today.

Treasury Wine Estates Ltd (ASX: TWE)

Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $12.40 price target on this wine giant’s shares. Goldman has been looking at Treasury Wine’s asset portfolio and believes it is being undervalued by the market. It also highlights that channel checks suggest market share gains can be expected as smaller traders and brands cycle out of the market. The Treasury Wine share price is trading at $11.08 this afternoon.

The post Brokers name 3 ASX shares to buy now appeared first on The Motley Fool Australia.

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More reading

• The market is undervaluing this ASX 200 stock: Goldman Sachs
• 5 things to watch on the ASX 200 on Friday
• 2 picks I’d buy for my ASX share portfolio in February
• Why Alliance Aviation, Platinum, REA, and Santos shares are dropping today
• REA share price tumbles despite 22% profit jump

Motley Fool contributor James Mickleboro has positions in Life360 and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, and REA Group. The Motley Fool Australia has recommended REA Group and Treasury Wine Estates. 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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