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:
Adairs Ltd (ASX: ADH)
According to a note out of UBS, its analysts have retained their buy rating but cut their price target on this homewares and furniture retailer's shares to $3.25. While the broker acknowledges that the company's outlook could be challenging, it was pleased to see that Adairs is performing in line with its expectations so far in FY 2023. Overall, the broker believes the company's shares offer a lot of value after pulling back materially this year. The Adairs share price is trading at $2.04 on Monday afternoon.
Allkem Ltd (ASX: AKE)
Analysts at Macquarie have retained their outperform rating but trimmed their price target on this lithium miner's shares to $20.00. Although Allkem's quarterly update was mixed and revealed that Olaroz Stage 2 commissioning is behind schedule, the broker remains positive enough to retain its buy rating. This is due to its bullish view on lithium prices and Allkem's growing production. The Allkem share price is fetching $14.79 this afternoon.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that its analysts have retained their buy rating and lifted their price target on this location technology company's shares to $9.25. Bell Potter notes that Life360 is increasing prices for all monthly iOS subscribers in the US to the same level which now applies to new monthly iOS and Android subscribers. While this is expected to result in some subscriber churn, trials have been successful and showed lower than expected levels. Bell Potter sees this as a positive and has boosted its estimates and now expects Life360 to be EBITDA profitable in 2023. The Life360 share price is trading at $7.25 on Monday.
