It was a busy week for Australia's top brokers. This has led to a number of broker notes being released.
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:
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Life360 Inc. (ASX: 360)
According to a note out of Bell Potter, its analysts have retained their buy rating and $35.00 price target on this location technology company's shares. The broker is feeling confident ahead of the release of Life360's second-quarter update. Bell Potter is forecasting paying circles, revenue, and EBITDA to all come in ahead of consensus estimates. This includes paying circles growth of 155,000 for the quarter, compared to the consensus estimate of 135,000. Outside this, it highlights its belief that Life360 shares are reasonable value trading on a 2027 EV/EBITDA multiple of around 25x. The broker highlights that this is a discount to peers when it should arguably be trading at a premium given its global market leader position and higher forecast earnings growth over the next few years. The Life360 share price ended the week at $28.56.
Light & Wonder Inc. (ASX: LNW)
A note out of Morgans reveals that its analysts have retained their buy rating on this gaming technology company's shares with an improved price target of $174.00. This follows the release of a better than feared second-quarter result. It notes that while revenue was softer than expected, Light & Wonder's earnings beat expectations. This was driven by growth in Land-based gaming and iGaming, which offset ongoing softness in the SciPlay business. The good news is that Morgans believes this positive form can continue and is expecting further growth over the course of 2026. As a result, it continues to see value in its shares at current levels. The Light & Wonder share price was fetching $124.30 at Friday's close.
REA Group Ltd (ASX: REA)
Another note out of Morgans reveals that its analysts have retained their buy rating on this property listings company's shares with an improved price target of $203.00. Morgans was pleased with REA Group's FY 2026 results and believes they continued to highlight the resilience of the franchise. The broker notes this is particularly the case with the company's ability to maintain double-digit yield growth in its core Australia business. In response to the result, Morgans has bumped its earnings estimates higher through to FY 2029, and lifted its valuation accordingly. The REA Group share price ended the week at $173.51.
