It was another busy week for Australia's top brokers. This led to the release of a large number of broker notes.
Three ASX 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:
CSL Limited (ASX: CSL)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating and $339.00 price target on this biotherapeutics company's shares. Morgan Stanley notes that one of CSL's rivals has reported a sharp reduction in its plasma collection costs. While the broker has not adjusted its estimates just yet, it points out that if CSL reported the same, its earnings could be higher than it is forecasting. The CSL share price ended the week at $306.36.
Coles Group Ltd (ASX: COL)
A note out of Citi reveals that its analysts have retained their buy rating and $20.20 price target on this supermarket giant's shares. This follows an investor tour of the company's new Witron automated distribution centre at Redbank in Queensland. Citi was pleased with what it saw and expects the new centre to support more flexible range management and lower stock losses. It also sees opportunities for Coles to leverage the centre to provide a cost advantage over rivals. The Coles share price was fetching $18.21 on Friday.
Life360 Inc (ASX: 360)
Analysts at Bell Potter have retained their buy rating and $8.75 price target on this location technology company's shares. Ahead of the release of Life360's first-quarter update, the broker appears to believe that a strong update could be coming. In fact, it is suggesting that Life360 could reveal that it has achieved positive cash flow ahead of expectations. The Life360 share price was trading at $5.82 at the end of the week.
