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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Endeavour Group Ltd (ASX: EDV)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this drinks company's shares with a trimmed price target of $7.00. The broker believes the company's shares have been oversold on recent Victorian gaming restriction news. Particularly given that it feels it is unlikely to have a significant impact on earnings. As a result, it feels this has created an attractive opportunity to buy a clear leader in a staples retailer. The Endeavour share price is trading at $6.08 today.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that its analysts have retained their buy rating on this location technology company's shares with an improved price target of $9.25. Bell Potter notes that Life360 will be releasing its half-year results next month. It suspects that the market may be expecting a guidance upgrade. However, it believes that there won't be one with this update, but that there's a strong chance of one coming with its third-quarter update later this year. The Life360 share price is fetching $7.82 on Wednesday.
South32 Ltd (ASX: S32)
Analysts at Morgans have retained their add rating on this mining giant's shares with a trimmed price target of $5.15. This follows the release of a quarterly update that was largely in line with expectations. Though, the US$1.3 billion impairment against the Taylor Deposit in Hermosa was disappointing according to the broker. Nevertheless, it remains positive and feels the miner represents attractive long-term value at current levels. The South32 share price is trading at $3.91 this afternoon.
