Many of Australia's top brokers have been busy adjusting their financial models and recommendations again. This has led to a number of broker notes being released this week.
Three ASX shares that brokers have named as buys this week are listed below. Here's why their analysts are feeling bullish on them right now:
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Life360 Inc. (ASX: 360)
According to a note out of the Macquarie equities desk, its analysts have initiated coverage on this location technology company's shares with an outperform rating and $32.20 price target. The broker believes that recent share price weakness has created an asymmetrical risk profile for investors. It highlights that Life360's shares are changing hands for only 23x estimated FY 2027 earnings. It thinks this is cheap for a company with such a strong revenue growth outlook, as well as operating leverage potential. The Life360 share price is trading at $20.31 on Wednesday afternoon.
Megaport Ltd (ASX: MP1)
A note out of Citi reveals its analysts have retained their buy rating on this network solutions company's shares with an improved price target of $15.00. This follows the release of an update which revealed that Megaport's Latitude business has won a significant contract. Megaport advised that it has secured a three-year compute and storage contract with a total value of approximately US$25.1 million (A$35.4 million). In response, the broker has upgraded its annual recurring revenue and EBITDA forecasts. And while it suspects that capital expenditure investment may have to increase, Citi isn't concerned due to the attractive returns and payback profiles. The Megaport share price is fetching $9.05 at the time of writing.
Newmont Corporation (ASX: NEM)
Analysts at Ord Minnett have retained their buy rating and $205.00 price target on this gold miner's shares. According to the note, the broker was impressed with Newmont's performance during the first quarter. It notes that the company's production came in ahead of expectations, which underpinned stronger than expected earnings and cash flow generation. The broker highlights that this has supported another increase in the gold miner's share buyback program. In response, the team at Ord Minnett has lifted its earnings forecasts for FY 2026 to reflect the stronger than expected performance. The Newmont share price is trading at $154.06 on Wednesday.
