With so many shares to choose from on the ASX, it can be difficult to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares that leading 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 Goldman Sachs, its analysts have reiterated their buy rating on this location technology company's shares with an improved price target of $14.20. Goldman was very impressed with Life360's FY 2023 results and continues to believe that its subscription business is undervalued. As a result, the broker sees potential advertising revenue upside as effectively a free option. The Life360 share price is trading at $12.35 today.
Neuren Pharmaceuticals Ltd (ASX: NEU)
A note out of Bell Potter reveals that its analysts have retained their buy rating and $27.00 price target on this pharmaceutical company's shares. The broker was pleased with Neuren's sales update and expectations for calendar year 2024. Bell Potter estimates that its Daybue product will generate A$1 billion in licensing income over the next 6 years. The Neuren share price is fetching $19.77 on Monday.
South32 Ltd (ASX: S32)
Analysts at Macquarie have upgraded this mining giant's shares to an outperform rating with an improved price target of $3.40. This follows news that the company has agreed to sell its Illawarra metallurgical operation. It is supportive of the sale and highlights that the company will be left with a focus on aluminium and base metals. These are areas which it believes have favourable outlooks. The South32 share price is trading at $2.97 this afternoon.
