Top brokers name 3 ASX shares to buy today

Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.

Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Boss Energy Ltd (ASX: BOE)

According to a note out of Macquarie, its analysts have retained their outperform rating and $6.00 price target on this uranium developer’s shares. This follows the release of an update which revealed the highest grade drill results to date at the Alta Mesa Project. Macquarie was pleased with the update and believes it points to better than expected resource estimates. In addition, the broker was pleased that production remains on track to commence later this year, giving the company exposure to strong spot uranium prices. The Boss Energy share price is trading at $4.83 this afternoon.

Life360 Inc (ASX: 360)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $14.40 price target on this location technology provider’s shares. The broker highlights that the company’s plan to sell advertisers access to its user base implies improved monetisation of its existing base and faster monetisation of new users. Morgan Stanley believes that this will lead to improved operating leverage or potentially accelerated growth in active users if it decides to step up its investment in sales and marketing. Another positive is that not only is the Life360 app a high-frequency app, but it also has highly affluent users to advertise to. The Life360 share price is fetching $12.85 today.

Woolworths Group Ltd (ASX: WOW)

Analysts at Goldman Sachs have retained their conviction buy rating and $40.40 price target on this supermarket giant’s shares. The broker highlights that Woolworths’ shares have fallen heavily amid concerns over inquiries into price gouging and anti-competitive behaviour claims. It believes this has been an overreaction, noting that the 2008 ACCC inquiry concluded that the supermarkets industry was “workably competitive” and recommended industry changes that did not result in a material impact to its earnings. The Woolworths share price is trading at $31.80 on Wednesday.

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

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More reading

• Why you should buy cheap Woolworths shares before it’s too late
• My top 3 ASX shares to consider buying before April
• 5 things to watch on the ASX 200 on Wednesday
• Down 12% over the past year, is the Woolworths share price a dead duck?
• 3 Australian shares to buy and hold forever in your ASX portfolio

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.

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