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:
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Aristocrat Leisure Limited (ASX: ALL)
According to a note out of Macquarie, its analysts have retained their outperform rating and $44.00 price target on this gaming technology company's shares. Macquarie is positive on Aristocrat due to its belief that the company is well-positioned to deliver solid growth in the coming years. This is thanks to strong performances from its existing businesses and potential M&A activity. The latter is supported by its cash balance of well over $1 billion. The Aristocrat share price is trading at $30.92 today.
Life360 Inc (ASX: 360)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating but slashed their price target on this location technology company's shares to $5.50. Morgan Stanley continues to forecast strong recurring revenue growth from Life360. However, due to a de-rating in the tech sector, it has taken an axe to its valuation. But with price target this still offering material upside, it holds firm with its overweight rating. The Life360 share price is fetching $3.13 on Thursday.
Lifestyle Communities Limited (ASX: LIC)
Analysts at Goldman Sachs have retained their conviction buy rating and $24.50 price target on this retirement communities company's shares. Goldman is very bullish on Lifestyle Communities due to Australia's ageing population, structural growth in demand for land lease options, and fundamental valuation support for cap rates. The Lifestyle Communities share price is trading at $13.50 this afternoon.
