It was 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:
CSL Ltd (ASX: CSL)
According to a note out of Citi, its analysts have retained their buy rating on this biotherapeutics company's shares with an improved price target of $345.00. This follows the release of the company's full year results for FY 2024. Citi was pleased with the result but a little disappointed with CSL's guidance for FY 2025, which was softer than expected. This is due to a slower improvement in the gross margins of the key CSL Behring business. However, with management sticking with its margin targets for the business, Citi remains positive on the future and continues to forecast solid profit growth for the coming years. As a result, it continues to see plenty of value in its shares at current levels. The CSL share price ended the week at $305.34.
Life360 Inc (ASX: 360)
A note out of Bell Potter reveals that 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 the Life360 app maker's second quarter update, which was comfortably ahead of expectations. Bell Potter was particularly happy with the key metrics of total paying circles, AMR, and ARPPC, which were all ahead of its forecasts. However, the highlight for the broker was its record quarter for growth in paying circles of 132,000. And with the seasonally stronger third and fourth quarters to come, Bell Potter is feeling very positive about its outlook. The Life360 share price was fetching $17.97 at Friday's close.
Pilbara Minerals Ltd (ASX: PLS)
Analysts at Morgans have retained their add rating and $3.40 price target on this lithium miner's shares. This follows an announcement last week which revealed that the company has signed an agreement to acquire Latin Resources Ltd (ASX: LRS) through an all-scrip deal. Morgans points out that the market doesn't appear pleased with the deal due to the weak lithium environment. However, it sees positives and notes that the counter-cyclical acquisition could deliver strong results in the future if the miner successfully develops Latin Resources' hard-rock Salinas Lithium Project in Minas Gerais, Brazil. The Pilbara Minerals share price ended the week at $2.90.
