Many of Australia’s top brokers have been busy adjusting their financial models again, leading to the release of a large number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Here’s why they are bullish on them:
City Chic Collective Ltd (ASX: CCX)
According to a note out of UBS, its analysts have retained their buy rating and $6.00 price target on this plus sized fashion retailer’s shares. This follows the release of a trading update from City Chic last week which revealed strong sales growth during the first half. And while COVID impacts have weighed heavily on profitability during the period, UBS remains positive on the future. The City Chic share price is trading at $5.00 on Monday afternoon.
IGO Ltd (ASX: IGO)
A note out of Credit Suisse reveals that its analysts have retained their outperform rating and increased their price target on this clean energy focused mining company’s shares to $16.30. According to the note, the broker made the move after upgrading its nickel and lithium price forecasts. These upgrades have underpinned a significant increase in the broker’s earnings estimates for IGO for the coming years. The IGO share price is fetching $12.71 in afternoon trade on Monday.
Life360 Inc (ASX: 360)
Analysts at Morgan Stanley have retained their overweight rating and $16.50 price target on this family focused app maker’s shares. According to the note, the broker believes recent download and app store data points to a strong result from Life360 next month. Morgan Stanley appears optimistic that this strong form will continue and support its share price performance. The Life360 share price is trading notably lower than this price target at $8.21 on Monday afternoon.