It has been another busy week for Australia’s top brokers. This has led to the release of a large 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:
Allkem Ltd (ASX: AKE)
According to a note out of Citi, its analysts have retained their buy rating and lifted their price target on this lithium producer’s shares to $12.00. Citi likes Allkem, previously known as Orocobre, due to its exposure to sky high lithium prices through its operations in Western Australia and Argentina. The Allkem share price is trading at $8.71 on Friday afternoon.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that its analysts have retained their buy rating and lifted their price target on this app maker’s shares to $16.25. This follows news that Life360 is acquiring items tracking company Tile. Together with its recent acquisition of Jiobit, Bell Potter believes Life360 is well positioned for growth. For example, the broker is forecasting revenue of US$247 million in FY 2022 and then US$334 million in FY 2023. The Life360 share price is fetching $11.65 today.
South32 Ltd (ASX: S32)
Analysts at Morgans have upgraded this mining giant’s shares to an add rating with an improved price target of $4.10. According to the note, Morgans has adjusted its forecasts to reflect the acquisition of a stake in the Sierra Gorda copper mine in Chile. Outside this, the broker likes South32 due to the diversity of its operations and its generous dividend yield. The latter is expected to be +7% in FY 2022 at current levels. The South32 share price is trading at $3.84 today.
The post 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 more than eight 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. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Why Morgans upgraded South32 (ASX:S32) shares to a buy rating
- Why is the Allkem (ASX:AKE) share price in the spotlight this week?
- Here’s why the Life360 (ASX:360) share price is leaping 12% today
- Why Life360, Oil Search, Telix, and Zip shares are storming higher
- 5 things to watch on the ASX 200 on Wednesday
Motley Fool contributor James Mickleboro owns Life360, Inc. and Allkem Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. 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 Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3IG17Qa
Leave a Reply