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 that leading brokers have named as buys this week are listed below. Here's why they are bullish on them:
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AGL Energy Limited (ASX: AGL)
According to a note out of Macquarie, its analysts have resumed coverage on this energy company's shares with an outperform rating and $8.31 price target. The broker believes that AGL's shares are materially undervalued at the current level. Particularly given the company's positive exposure to higher electricity prices. The AGL share price is trading at $7.10 this afternoon.
Allkem Ltd (ASX: AKE)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating and $15.40 price target on this lithium miner's shares. Although spot lithium prices continue to weaken, Goldman holds firm with its buy rating. That's because it believes Allkem's production growth and downstream optionality will offset this and underpin strong earnings in the coming years. The Allkem share price is fetching $10.26 at the time of writing.
Life360 Inc (ASX: 360)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $7.85 price target on this location technology company's shares. This follows the release of a full-year result which ticked all the boxes for the broker. Outside this, the broker believes the market is underappreciating the company's significant earnings growth potential. The Life360 share price is trading at $4.76 on Monday afternoon.
