Here’s why brokers believe that now could be the time to snap up these shares.
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:
Breville Group Ltd (ASX: BRG)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $25.00 price target on this appliance manufacturer’s shares. This follows the release of an update from rival DeLonghi, which appears to show that demand is improving, particularly in the at-home coffee market. Morgan Stanley feels this update is supportive of its positive view on Breville. The Breville share price is trading at $22.54 today.
Life360 Inc (ASX: 360)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this location technology company’s shares with an improved price target of $9.20. Its analysts believe that app data is pointing to Life360 delivering a strong update next month. Based on this and its significant earnings upside over the medium term, the broker believes there is re-rating potential for the company’s shares as it shifts into the profitable tech basket. The Life360 share price is fetching $7.71 today.
Pointsbet Holdings Ltd (ASX: PBH)
Analysts at Bell Potter have retained their speculative buy rating on this sports betting company’s shares with a trimmed price target of $2.20. This follows the release of a fourth-quarter update that was at least in line but in some case better than the broker’s expectations. Overall, Bell Potter appears positive on the company’s progress and highlights that a sizeable distribution will be made to eligible shareholders in September. The Pointsbet share price is trading at $1.67 today.
