Brokers name 3 ASX shares to buy today

Brokers are bullish on these ASX shares…

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It has been another busy week for Australia’s top brokers. This has led to the release of a large number of broker notes.

Three broker buy ratings that you might want to know more about are summarised below. Here’s why brokers think these ASX shares are in the buy zone:

Hipages Group Holdings Ltd (ASX: HPG)

According to a note out of Goldman Sachs, its analysts have retained their buy rating but trimmed their price target on this tradie marketplace provider’s shares to $4.60. This follows the release of Hipages’ second quarter update, which fell short of expectations due to the impact of the Omicron variant on its tradie base. While Goldman was disappointed with the quarter on quarter decline in subscription tradies, it doesn’t believe this represents any structural issue in the marketplace and its positive view is unchanged. The Hipages share price is trading at $3.02 this afternoon.

Life360 Inc (ASX: 360)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $16.50 price target on this app maker’s shares. This follows the release of a strong fourth quarter update which led to Life360 outperforming the broker’s expectations in FY 2022. Morgan Stanley appears confident its strong form can continue and sees the recent share price weakness as a buying opportunity. The Life360 share price is fetching $7.58 on Friday.

Premier Investments Limited (ASX: PMV)

Analysts at Macquarie have retained their outperform rating and lifted their price target on this retail conglomerate’s shares to $35.00. This follows the release of Premier Retail’s first half trade update which revealed solid earnings growth despite the loss of a significant number of trading days due to COVID-19. Macquarie notes that its strong online businesses and cost control have supported its growth and expects this trend to continue. The Premier Investments share price is trading at $28.67 this afternoon.

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Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Hipages Group Holdings Ltd. and Life360, Inc. The Motley Fool Australia owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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