With so many shares to choose from on the ASX, it can be hard 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 leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Elders Ltd (ASX: ELD)
According to a note out of Goldman Sachs, its analysts have retained their conviction buy rating and lifted their price target on this agribusiness company’s shares to $15.65. The broker sees Elders as delivering a compelling combination of top line growth and margin expansion over the coming years. This is expected to be driven by market share growth and gross margin expansion as it backward integrates key rural product lines. The Elders share price is trading at $11.61 today.
Life360 Inc (ASX: 360)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $10.50 price target on this app maker’s shares. The broker notes that the Google Play Store has halved the commissions on initial subscriptions to 15%. Morgan Stanley believes this bodes well for Life360’s margins and supports its bull case. It also suspects that Apple’s App Store may follow suit in the near future. The Life360 share price is fetching $9.34 this afternoon.
Orocobre Limited (ASX: ORE)
Analysts at Citi have retained their buy rating and $11.00 price target on this lithium miner’s shares. The broker believes Orocobre is a top option for investors in the lithium space. This is because it feels it is well-placed to benefit in the near term from very strong lithium prices and over the long term through its development program. The Orocobre share price is trading at $9.07 on Monday afternoon.