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:
Lovisa Holdings Ltd (ASX: LOV)
According to a note out of Morgans, its analysts have retained their add rating on this fashion jewellery retailer's shares with an improved price target of $35.00. Morgans was pleased with the company's performance during the first half. Looking ahead, it appears confident the trend will continue and has increased its valuation on the belief that its shares deserve to trade on higher multiples. The Lovisa share price ended the week at $31.65.
Life360 Inc (ASX: 360)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this location technology company's shares with an increased price target of $14.20. The broker was very impressed with Life360's FY 2023 results and believes there's more to come. It highlights the company's solid subscription growth outlook from price increases. It also notes that its advertising optionality could drive meaningful medium-term upside. The Life360 share price was fetching $12.34 on Friday.
South32 Ltd (ASX: S32)
Analysts at UBS have retained their buy rating on this mining giant's shares with an improved price target of $4.00. The broker is feeling more bullish on South32 after boosting its copper price estimates meaningfully higher through to 2027. This is expected to be underpinned by strong demand and a supply crunch. The South32 share price ended last week at $2.99.
