Many of Australia's top brokers have been busy adjusting their financial models again, leading to the release of a number of broker notes this week.
Three ASX shares brokers have named as buys this week are listed below. Here's why they are bullish on them:
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Aristocrat Leisure Limited (ASX: ALL)
According to a note out Morgans, its analysts have retained their add rating on this gaming technology company's shares with an improved price target of $46. This follows news that the company has signed an agreement to acquire NeoGames for $1.8 billion. Morgans was pleased with the acquisition, but not surprised. It highlights that the acquisition increases its position in the rapidly-growing online real money gaming industry and brings with it a world-class technology platform that is a worthy prize. The Aristocrat share price is trading at $39.39 this afternoon.
James Hardie Industries plc (ASX: JHX)
A note out of Citi reveals that its analysts have retained their buy rating on this building materials company's shares with an improved price target of $42.50. This follows the release of a full-year result that was largely in line with expectations. One thing that caught the eye of Citi's analysts was its exit margins, which has led to the broker bumping its earnings estimates higher. The James Hardie share price is fetching $37.44 today.
Life360 Inc (ASX: 360)
Analysts at Goldman Sachs have retained their buy rating on this location technology company's shares with an improved price target of $8.35. Goldman was impressed with Life360's quarterly update and is feeling very confident on the future. Its analysts believe Life360 has reached its profitability inflection point. It expects operating leverage and prudent cost management to drive a material earnings uplift from here as the company scales. The Life360 share price is trading at $6.85 on Wednesday.
