Top brokers name 3 ASX shares to buy next week

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:

Coles Group Ltd (ASX: COL)

According to a note out of Ord Minnett, its analysts have upgraded this supermarket giant's shares to a buy rating with an improved price target of $27.00. Ord Minnett believes that the company is well-positioned for sales growth in the first quarter. This reflects its expectation for food inflation to boost like-for-like sales growth. In light of this and the rolling forward of its valuation, Ord Minnett believes the company's shares are attractively priced at current levels. The Coles share price ended last week at $23.43.

Life360 Inc. (ASX: 360)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating on this family safety technology company's shares with an improved price target of $32.00. The broker highlights that Life360's shares have fallen materially from their 52-week high. This is despite consensus earnings upgrades from brokers. Morgan Stanley believes the weakness has been caused by concerns over AI disruption slowing its user growth, creating higher churn, and lower paid users. However, the broker points out that all key metrics continue to head in the right direction and appears confident that this trend will continue. The Life360 share price was fetching $23.07 at Friday's close.

Paladin Energy Ltd (ASX: PDN)

Analysts at UBS have upgraded this uranium producer's shares to a buy rating with a trimmed price target of $11.70. According to the note, the broker was pleased with the company's update, highlighting that its production and sales were at the high-end of its guidance range. And while its guidance for FY 2027 was softer than expected, UBS concedes that management is often conservative. Overall, the broker believes that Paladin Energy's shares offer investors asymmetric upside and is recommending them to clients. The Paladin Energy share price ended the week at $9.68.

The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has positions in and has recommended Life360. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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