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:
Image source: Getty Images
Life360 Inc (ASX: 360)
According to a note out of Bell Potter, its analysts have retained their buy rating on this location technology company's shares with an improved price target of $20.50. This follows the release of a second quarter update that was comfortably ahead of expectations in respect to earnings. In addition, it notes that the key metrics of total paying circles, AMR, and ARPPC were also ahead of its forecasts, with the highlight being a record quarter for growth in paying circles of 132,000. And with the seasonally stronger third quarter to come, Bell Potter is feeling very positive about its outlook. The Life360 share price is trading at $17.26 today.
Light & Wonder Inc (ASX: LNW)
A note out of Morgans reveals that its analysts have retained their add rating and $180.00 price target on this gaming developer's shares. Morgans notes that Light & Wonder continued its strong momentum in the second quarter, delivering its 13th consecutive quarter of double-digit revenue growth. A key driver of this was the core land-based gaming division. It outperformed with both global outright sales and North American (NA) gaming operations delivering strong results thanks largely to the success of Dragon Train. Another positive for Morgans was its cash generation, which remained strong. The Light & Wonder share price is fetching $155.74 this afternoon.
QBE Insurance Group Ltd (ASX: QBE)
Another note out of Morgans reveals that its analysts have retained their add rating on this insurance giant's shares with a trimmed price target of $18.73. Morgans notes that QBE delivered a first half result that was largely in line with expectations. And while it was a touch disappointed with its dividend (which fell well short of consensus estimates) and its lowered guidance for the full year, it saw enough to remain positive. Particularly given that the performance of QBE's North American business improved during the half. As a result, it thinks investors should be snapping up shares at current levels. The QBE share price is trading at $16.26 on Monday.
