Top brokers name 3 ASX shares to buy next week

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Brokers gave buy ratings to these ASX shares last week. Why are they bullish? The post Top brokers name 3 ASX shares to buy next week appeared first on The Motley Fool Australia.

It was another busy week for Australia's top brokers, with a number of new research 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 could be worth buying:

According to a note out of Bell Potter, its analysts have retained their buy rating on this location technology company's shares with a trimmed price target of $30.00. This follows Life360's third-quarter update, which revealed stronger-than-expected earnings and user growth. The broker highlights that adjusted EBITDA was 9% ahead of its forecast, with a margin of 19.9% compared to the 18.3% expected. Global monthly active users increased by 5.3 million, while paying circles grew by 188,000, with both figures ahead of expectations.

Bell Potter was also encouraged by management narrowing its FY 2026 revenue guidance to US$665 million to US$681 million and adjusted EBITDA guidance to US$132 million to US$138 million. Although the broker has lowered its valuation, it remains positive on Life360's growth outlook and sees recent share price weakness as a buying opportunity. The Life360 share price ended the week at $21.26.

A note out of Morgans reveals that its analysts have retained their buy rating on this gaming technology company's shares with a reduced price target of $165.00). This followed the release of Light & Wonder's third-quarter results, which were a touch mixed. The broker notes that revenue and adjusted EBITDA were below expectations, with weakness in the SciPlay business weighing on performance.

However, Morgans was pleased with the company's strong cash generation, with adjusted free cash flow of US$181 million supporting US$156 million of debt repayments during the quarter. This reduced its leverage ratio to 3.3 times.

Another note out of Morgans reveals that its analysts have retained their buy rating on this engineering company's shares with an increased price target of $38.50.

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