With so many shares to choose from on the Australian share market, 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:
Brambles Ltd (ASX: BXB)
Analysts at Morgan Stanley have upgraded this logistics solutions company's shares to an overweight rating with an improved price target of $16.60. The broker made the move on valuation grounds. It highlights that the company's shares are trading at a huge discount to their five-year average multiples. This is despite Brambles having a positive earnings growth outlook and being positioned to announce material share buybacks in both FY 2025 and FY 2026. In light of this, its analysts believe that a compelling entry point has been created for investors and has upgraded its shares accordingly this morning. The Brambles share price is currently changing hands for $14.70.
Capricorn Metals Ltd (ASX: CMM)
According to a note out of Bell Potter, its analysts have retained their buy rating and $6.50 price target on this gold miner's shares. The broker believes that recent share price weakness has created a very attractive opportunity for investors to buy Capricorn Metals' shares at a cheap price. Particularly given a recent 26% increase in ore reserves at the 100%-owned Mt Gibson Gold Project in Western Australia. In addition, the broker highlights that the company has sector leading cash generation. Combined with its strong production record, it believes this means that its shares deserve to trade at a premium to sector average valuation metrics. The Capricorn Metals share price is fetching $4.48 on Tuesday.
Life360 Inc (ASX: 360)
Another note out of Bell Potter reveals that its analysts have retained their buy rating on this location technology company's shares with a trimmed price target of $17.00. This follows the completion of the company's highly anticipated Nasdaq IPO. Bell Potter was pleased with the listing, remains very positive on its outlook, and is forecasting strong earnings and revenue growth through to at least 2026. It also highlights that the next potential catalyst it sees for the stock is its half year result in August. The broker notes that it is expecting another solid result from the market darling. The Life360 share price is trading at $13.70 this afternoon.
