A large number of broker notes have hit the wires this week, leading to many popular shares being declared buys and sells.
Three shares that are in favour with brokers and have been given a buy rating are listed below. Here's why they are bullish on them:
Life360 Inc (ASX: 360)
According to a note out of Credit Suisse, its analysts have retained their outperform rating and $5.20 price target on this newly listed tech company's shares following its recent update. The broker was pleased to see that Life360 has reaffirmed its FY 2019 guidance and delivered a first half result in line with its estimates. It was also pleased with the outperformance of its core subscription business during the half. I think Life360 is an interesting business and worth watching closely.
Resolute Mining Limited (ASX: RSG)
A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and lifted the price target on this gold miner's shares to $2.30. According to the note, the broker made the move in response to the release of a strong second quarter update from Resolute and its US$274 Toro Gold acquisition. Macquarie also sees a lot of potential from the underground extension at its Syama operation. I agree with the broker on this one and think Resolute would be a good option for investors looking for exposure to gold.
Xero Limited (ASX: XRO)
Another note out of the Macquarie equities desk reveals that its analysts have upgraded this business and accounting software company's shares to an outperform rating from neutral and lifted the price target on them materially to $76.50. According to the note, the broker believes that Xero is well-placed to become a global platform of choice for small businesses. It expects the company's growth to accelerate as its scales and believes this is still only early days in respect to its long term growth story. I think Macquarie is spot on with this one and that Xero would be a great buy and hold investment.
