Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

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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:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Citi, its analysts have retained their buy rating and $51.00 price target on this gaming technology company's shares. This followed the release of the poker machine manufacturer's half year results last week. Citi notes that those results were well ahead of both the market's and its own expectations thanks largely to lower than expected costs. A strong performance from its Rest of World segment also helped to offset a slightly softer than expected half in the United States. The broker also notes that the Aristocrat Leisure will consider selling its digital assets. It is supportive of the move, given how their growth has slowed. However, the price it receives for these assets will be key. The Aristocrat Leisure share price ended last week trading at $46.28.

CSL Ltd (ASX: CSL)

A note out of UBS reveals that its analysts have retained their buy rating and $330.00 price target on this biotherapeutics giant's shares. UBS notes that the company's collections partner, Terumo, has just released its latest quarterly update and it believes there are positives for CSL in there. This because Terumo's update revealed that it has ramped up the rollout of CSL's new Rika collection platform to more centres in the United States. So much so, Terumo's Rika ramp up appears to be ahead of schedule, with the FY 2024 target already reached. This will be good news for CSL given the benefits of the very efficient new technology on plasma yields. The CSL share price was fetching $280.00 at Friday's close.

Life360 Inc (ASX: 360)

Analysts at Morgan Stanley have retained their overweight rating on this location technology company's shares with an improved price target of $17.50. This follows the release of the market darling's recent quarterly update. Morgan Stanley highlights that Life360's update, which was largely pre-released, revealed that its strong growth not only continued in the quarter but also at the start of the current quarter. This has led to the broker boosting its earnings estimates and valuation accordingly. The Life360 share price ended the week trading at $15.47.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in CSL and Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Life360. The Motley Fool Australia has recommended CSL. 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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