It has been another busy week for many of 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 right now:
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Cedar Woods Properties Limited (ASX: CWP)
According to a note out of Bell Potter, its analysts have retained their buy rating on this property company's shares with an improved price target of $7.15. The broker believes that Cedar Woods is well-placed to outperform the market's expectations in FY 2025. It is forecasting earnings per share growth of 11%, compared to the consensus estimate of 8%. Bell Potter believes this outperformance will be driven by record presales, strong demand, and its diverse pipeline of well acquired projects. It also highlights that Cedar Woods is more diversified now than it was during the last mining sector downturn. As a result, it is comfortable with its Western Australia exposure. The Cedar Woods share price is trading at $5.64 on Friday.
Computershare Ltd (ASX: CPU)
A note out of Goldman Sachs reveals that its analysts have retained their buy rating on this share transfer agency's shares with a trimmed price target of $30.00. Goldman has been looking at that impact that falling interest rates could have on Computershare. While it has downgraded its earnings estimates slightly to reflect lower margin income yields, this was partially offset by slightly improved balances. Outside this, the broker likes the company due to its strong balance sheet and belief that its core business should benefit from any recovery in corporate actions through improved transaction/event-based revenues, as well as lower cost inflation pressures. So, with an undemanding valuation, the broker feels that now is a good time to buy. The Computershare share price is fetching $25.15 today.
Life360 Inc (ASX: 360)
Another 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 $22.50. The broker has increased the multiple that it applies in its valuation due to the rally in the tech sector since it last updated its price target. In addition, the broker believes that Life360's upcoming third quarter update will be very strong. So much so, it sees potential for management to upgrade its earnings guidance again. It also sees some potential for paying circle growth to positively surprise given its stronger than expected start to the financial year. The Life360 share price is trading at $19.08 at the time of writing.
