Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

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Many of Australia's top brokers have been busy adjusting their financial models and recommendations again. This has led to the release of a number of broker notes this week.

Three ASX shares that brokers have named as buys this week are listed below. Here's why their analysts are feeling bullish on them right now:

Lifestyle Communities Ltd (ASX: LIC)

According to a note out of Goldman Sachs, its analysts have retained their buy rating on this retirement communities company's shares with a reduced price target of $18.45. This follows the release of a trading update which revealed that its settlements have fallen well short of expectations in FY 2024. While this and its revised guidance for FY 2025 is disappointing, the broker remains positive and believes the selloff of its shares has created a buying opportunity. It highlights that settlements are poised to increase considerably in the coming years, driving earnings growth, and unlocking cash flow. Overall, the broker feels that the company has an attractive structural growth outlook as the leading land lease operator in Victoria. The Lifestyle Communities share price is trading at $11.98 on Wednesday.

Northern Star Resources Ltd (ASX: NST)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $17.00 price target on this gold miner's shares. This follows the release of the company's quarterly update. Macquarie notes that some of this update was pre-released. Nevertheless, new data has gone down relatively well with the broker. It also notes that it was pleased with its costs and management reaffirming its guidance for FY 2024. The latter remains 1,600,000 to 1,750,000 ounces of gold sold at an AISC of A$1,810 to A$1,860 per ounce. The Northern Star share price is fetching $14.92 on Wednesday afternoon.

Treasury Wine Estates Ltd (ASX: TWE)

Analysts at Morgan Stanley have retained their overweight rating on this wine giant's shares with an improved price target of $13.75. According to the note, the broker has been running the rule over the key Penfolds business following the removal of tariffs in China. Morgan Stanley believes that the business is well-placed for growth in the coming years thanks to this development and has upgraded its earnings estimates and valuation to reflect this. The broker also sees positives from the repositioning of the company's North American business. The Treasury Wine share price is currently trading at $12.12 this afternoon.

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Treasury Wine Estates. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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