With most brokers taking a break over the Christmas and New Year holiday period, research notes are few and far between right now.
But don't worry! Listed below are three recent broker buy recommendations that still have plenty of upside potential.
Here's why brokers think these ASX shares are in the buy zone:
Image source: Getty Images
Domino's Pizza Enterprises Ltd (ASX: DMP)
According to a note out of Morgans, its analysts have an add rating and $90.00 price target on this pizza chain operator's shares. Morgans was reasonably pleased with Domino's first quarter update and was encouraged to hear that same store sales growth turned positive at the start of the second quarter. Its analysts believe this could mark an inflection point for sales growth, which it feels is likely to accelerate as the year goes on. The Domino's share price is fetching $64.53 on Wednesday.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that its analysts have a buy rating and $9.00 price target on this location technology company's shares. Bell Potter notes that Life360 recently completed a capital raising. The broker doesn't believe these funds will be used for increased investments. Instead, it feels the funds are there to provide a buffer so that its cash at bank does not drop below US$50 million before it starts generating positive free cash flow in the second half of next year. Bell Potter also continues to believe that Life360 will deliver on its guidance in FY 2022. The Life360 share price is trading at $4.75 on Wednesday afternoon.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have a conviction buy rating and $41.70 price target on this retail giant's shares. Goldman notes that Woolworths has acquired a 55% stake in pet accessories and food retailer Petspiration Group. It believes the transaction is an incrementally positive step in the evolution of its eco-system strategy. The broker also highlights that the transition from liquor retail and gaming/hotels into pet retail is in line with its strategy. This is due to pet retail being higher growth and offering closer synergies with the family shopper. The Woolworths share price is trading at $34.07 today.
