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:
Life360 Inc (ASX: 360)
According to a note out of Morgan Stanley, its analysts have retained their overweight rating on this location technology company's shares with an improved price target of $11.50. The broker has boosted its earnings estimates and valuation to reflect its expectation for a higher average revenue per user metric. This follows successive price increases. The Life360 share price is trading at $8.39 on Wednesday.
Pilbara Minerals Ltd (ASX: PLS)
A note out of Morgans reveals that its analysts have retained their add rating and $5.60 price target on this lithium miner's shares. The broker notes that the company will be releasing its quarterly update this month. And while it suspects that the update will reveal weaker lithium prices, it isn't enough to put it off. Morgans continues to see Pilbara Minerals as the best way to gain exposure to the battery-making ingredient. The Pilbara Minerals share price is fetching $4.10 this afternoon.
Treasury Wine Estates Ltd (ASX: TWE)
Analysts at Goldman Sachs have retained their buy rating and $13.40 price target on this wine giant's shares. This follows the release of its first-quarter update. While the broker notes that the company's first-half profits will be weaker than expected due to a greater second-half skew, it is confident that it will deliver the goods over the full year. It also sees potential for upside risk if China were to remove tariffs on Australian wine. The Treasury Wine share price is trading at $11.79 today.
