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:
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Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of Macquarie, its analysts have retained their outperform rating on this travel agent's shares with a trimmed price target of $25.26. Macquarie points out that Flight Centre's total transaction value (TTV) of $23.7 billion in FY 2024 was short of its expectations. It notes that this miss was caused by lower airfares. While disappointing, its analysts remain positive and continue to forecast solid TTV growth through to FY 2026. This is expected to be underpinned by market share gains, which the broker believes will offset further airfare deflation. The Flight Centre share price was trading at $21.40 on Friday.
Life360 Inc (ASX: 360)
A note out of Morgan Stanley reveals that its analysts have retained their buy rating and $19.00 price target on this location technology company's shares. The broker highlights that it is feeling confident about the company's performance in FY 2024. So much so, it sees potential for Life360 to outperform expectations when it releases its half year results next month. This is especially the case given the strength of its core business. In addition, Morgan Stanley points out that the launch of Life360's advertising business opens up the company to low-income markets which wouldn't be able to afford the subscription fees. Overall, the broker believes that Life360 is positioned to continue its strong growth for the foreseeable future. The Life360 share price ended the week at $15.70.
Lovisa Holdings Ltd (ASX: LOV)
Analysts at Morgans have retained their add rating on this fashion jewellery retailer's shares with an improved price target of $37.00. According to the note, the broker has been looking at the retail sector and believes that Lovisa is on the side of the market that will be favoured by investors. This is because of the company's positive long term outlook thanks to its store network expansion plans and good cost control. And while Morgans acknowledges that a social media post appears to indicate that its expansion is running a touch short of expectations and has trimmed its revenue forecasts accordingly, it remains very bullish and has named it as one of its top retail picks. The Lovisa share price ended the week at $33.78.
