With so many shares to choose from on the ASX, it can be difficult 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:
Life360 Inc (ASX: 360)
According to a note out of Goldman Sachs, its analysts have reiterated their buy rating on this location technology company’s shares with an improved price target of $14.20. Goldman was very impressed with Life360’s FY 2023 results and continues to believe that its subscription business is undervalued. As a result, the broker sees potential advertising revenue upside as effectively a free option. The Life360 share price is trading at $12.35 today.
Neuren Pharmaceuticals Ltd (ASX: NEU)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $27.00 price target on this pharmaceutical company’s shares. The broker was pleased with Neuren’s sales update and expectations for calendar year 2024. Bell Potter estimates that its Daybue product will generate A$1 billion in licensing income over the next 6 years. The Neuren share price is fetching $19.77 on Monday.
South32 Ltd (ASX: S32)
Analysts at Macquarie have upgraded this mining giant’s shares to an outperform rating with an improved price target of $3.40. This follows news that the company has agreed to sell its Illawarra metallurgical operation. It is supportive of the sale and highlights that the company will be left with a focus on aluminium and base metals. These are areas which it believes have favourable outlooks. The South32 share price is trading at $2.97 this afternoon.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the ‘five best ASX stocks’ for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now…
See The 5 Stocks
*Returns as of 1 February 2024
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Why Calix, Genex, Life360, and Spartan Resources shares are rising
- Why Life360 shares can keep rocketing
- 5 things to watch on the ASX 200 on Monday
- Which ASX shares delivered the biggest profit jumps of the earnings season?
- Here’s how the ASX 200 market sectors stacked up this week
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 Goldman Sachs Group, Life360, and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/uWc9SqI
Leave a Reply