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:
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ALS Ltd (ASX: ALQ)
According to a note out of Goldman Sachs, its analysts have retained their buy rating on this testing services company's shares with an improved price target of $17.75. Goldman highlights that ALS' shares are trading nearer the peer set median than the high. This is despite sustainably higher margins, faster organic growth, and consensus estimates forecasting higher growth. In addition, the broker highlights that with the minerals cycle potentially inflecting after its margins held up in a downturn, it believes the company's shares deserve to trade near the top of the set. The ALS share price is trading at $16.08 on Monday.
Charter Hall Group (ASX: CHC)
A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $20.00 price target on this property company's shares. The broker believes that Charter Hall provides investors with the best exposure to bottoming valuations in commercial real estate in Australia. It highlights that as asset values and cap rates improve, this should be followed by escalation in transaction volumes. This should then underpin an uplift in fees and assets under management. In addition, it notes that Charter Hall is looking to launch new products by the end of this year to capitalise on the bottom of property cycle. The Charter Hall share price is fetching $16.45 at the time of writing.
Life360 Inc (ASX: 360)
Another note out of Goldman Sachs reveals that its analysts have retained their buy rating and $27.00 price target on this location technology company's shares. The broker believes that some post-results weakness has created a buying opportunity for investors. Particularly given that it sees potential for FY 2025 earnings guidance upgrades, given its historical outperformance. Outside this, the broker highlights that it likes Life360 due to its positive long-term growth outlook which is being supported by US and International Subscriptions, expansion of new channels, and the utilisation of additional hardware products to drive subscriptions. This includes pet devices in late 2025 and an elderly device. The Life360 share price is trading at $23.10 this afternoon.
