Brokers are making stock picking easier by recommending three top ASX shares to buy this week. Here’s a breakdown of why they’re bullish on these companies:
Life360 Inc (ASX: 360)
Goldman Sachs analysts have reiterated their buy rating on Life360 shares with a raised price target of $14.20. They were impressed by the company’s FY 2023 results and believe its subscription business is undervalued, potentially leading to additional advertising revenue. Currently, Life360 shares are trading at $12.35.
Neuren Pharmaceuticals Ltd (ASX: NEU)
Bell Potter analysts maintain their buy rating and $27.00 price target on Neuren Pharmaceuticals. They’re optimistic about the company’s sales update and expectations for 2024, particularly regarding its Daybue product, which they estimate could generate A$1 billion in licensing income over the next 6 years. Neuren shares are priced at $19.77.
South32 Ltd (ASX: S32)
Macquarie analysts have upgraded South32 shares to an outperform rating with a raised price target of $3.40. This follows the company’s decision to sell its Illawarra metallurgical operation, a move supported by Macquarie due to South32’s focus on aluminium and base metals, which have promising outlooks. South32 shares are currently trading at $2.97.
Looking to invest $1,000 right now? Investing expert Scott Phillips has revealed what he believes could be the ‘five best ASX stocks’ for investors. These stocks are believed to be trading at attractive prices and could present great buying opportunities.
