It has been another busy week for Australia's top brokers. This has led to the release of a 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:
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Life360 Inc (ASX: 360)
According to a note out of Morgan Stanley, its analysts have retained their buy rating and $11.50 price target on this location technology company's shares. Morgan Stanley is expecting a strong result from the company during earnings season. In fact, it believes that there's potential for Life360 to outperform consensus estimates and catalyse a re-rating of its shares. The Life360 share price is trading at $7.76 on Friday.
REA Group Ltd (ASX: REA)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this property listings company's shares with a trimmed price target of $201.00. This follows the release of a solid half year result this week. Following the result and management's commentary, Goldman believes that REA's revenue outlook remains very positive. In light of this, it feels its shares have one of the best risk/reward profiles in its domestic media coverage. The REA share price is fetching $180.25 today.
Treasury Wine Estates Ltd (ASX: TWE)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $12.40 price target on this wine giant's shares. Goldman has been looking at Treasury Wine's asset portfolio and believes it is being undervalued by the market. It also highlights that channel checks suggest market share gains can be expected as smaller traders and brands cycle out of the market. The Treasury Wine share price is trading at $11.08 this afternoon.
