Given how 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 that leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and lifted their price target on this biotherapeutics giant's shares to $354.00. The broker made the move on the belief that plasma margins could recover even more than expected thanks to favourable tailwinds and its new plasma collection technology. This is a big positive given how important this is to CSL's overall operations. The CSL share price is trading at $291.70 today.
Life360 Inc (ASX: 360)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and increased their price target on this location technology company's shares to $7.90. This follows the release of a trading update, which went down well with Goldman. The broker highlights that Life360 is approaching an inflection point as it proves the pricing power of its subscription business model and moves out of the non-profitable tech basket. The broker appears to believe this could support a re-rating of its shares in the near future. The Life360 share price is fetching $5.76 on Tuesday.
Super Retail Group Ltd (ASX: SUL)
Analysts at Citi have retained their buy rating and lifted their price target on this retailer's shares to $14.00. This follows the release of a strong trading update from the diversified retailer this week. The broker notes that Super Retail has guided to a half year profit before tax of $212 million to $218 million, which is well ahead of its estimate of $183.6 million. Looking ahead, the broker is positive on the second half and believes consumer spending will be far more resilient than the market expects. The Super Retail share price is trading at $12.24 today.
