It has been another busy week for Australia's top brokers. This has led to the release of a large number of broker notes.
Three broker buy ratings that you might want to know more about are summarised below. Here's why brokers think these ASX shares are in the buy zone:
Jumbo Interactive Ltd (ASX: JIN)
According to a note out of Morgans, its analysts have retained their add rating on this lottery ticket seller's shares with an improved price target of $16.90. Morgans has made a meaningful increase to its earnings estimates for Jumbo after it announced plans to increase digital lottery ticket prices later this month. The broker feels this and recent share price weakness has created a buying opportunity for investors. The Jumbo share price is trading at $14.29 today.
Life360 Inc (ASX: 360)
A 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. The broker believes that Life360 is well-placed to deliver a strong first-quarter update next week. It highlights that recent high frequency metrics demonstrate strength in Life360's top-of-funnel user growth, with year to date downloads and MAUs tracking in line with FY 2022. All in all, the broker remains very bullish on the future and believes the company is on the cusp of becoming highly profitable. The Life360 share price is fetching $5.33 this morning.
Temple & Webster Group Ltd (ASX: TPW)
Analysts at Goldman Sachs have also retained their buy rating and $6.10 price target on this online furniture retailer's shares. The broker has been looking into web traffic trends and believes it is supportive of its forecasts for the second half. It also expects a return to double digit revenue growth in FY 2024. The Temple & Webster share price is trading at $3.88 on Friday.
