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:
Accent Group Ltd (ASX: AX1)
According to a note out of Bell Potter, its analysts have retained their buy rating on this footwear retailer's shares with an improved price target of $2.10. This follows the release of a trading update which revealed strong sales growth and margin expansion financial year to date. Bell Potter believes that the company is well-placed going into the key seasonal period, particularly given its healthy inventory position. The Accent share price is trading at $1.69 on Wednesday afternoon.
Life360 Inc (ASX: 360)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this location technology company's shares with an improved price target of $8.40. Goldman Sachs was pleased with Life360's quarterly update and believes it reinforces its view that the company is executing well on its long-term strategy to grow subscription lifetime value. The Life360 share price is fetching $6.85 this afternoon.
QBE Insurance Group Ltd (ASX: QBE)
Analysts at Macquarie have retained their outperform rating and $14.00 price target on this insurance giant's shares. According to the note, the broker has been looking at a number of industry updates and has been pleased with what it saw. Overall, it remains confident that QBE is performing in line with expectations and highlights that its shares are trading at a discount to global peers. The QBE share price is trading at $11.92 today.
