With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.
Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:
Appen Ltd (ASX: APX)
According to a note out of Citi, its analysts have retained their buy rating and $17.10 price target on this artificial intelligence data services company’s shares. Citi is sticking with Appen despite news that Amazon has launched a new SageMaker Ground Truth Plus service that uses an expert workforce to deliver high-quality training datasets faster. The broker believes that while competition in the Enterprise space may increase, competition with Appen’s major technology customers shouldn’t be impacted. The Appen share price is trading at $9.21 on Monday afternoon.
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
A note out of Morgans reveals that its analysts have retained their add rating and $31.00 price target on this banking giant’s shares. Morgans remains positive on the banking sector as a whole and believes there is potential for further capital management and generous dividends in the near term. Its analysts also expect rising interest rates to be supportive of earnings growth in the coming years. The ANZ share price is fetching $26.87 today.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie have upgraded this medical device company’s shares to an outperform rating with a $39.00 price target. While Macquarie acknowledges that supply chain issues are putting pressure on near term device supply, its analysts remain positive. This is due to an expected increase in industry volume growth from 2023 and market share gains for ResMed. Macquarie believes this will support revenue and earnings growth ahead of current analyst consensus estimates. The ResMed share price is trading at $36.29 on Monday.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Why ANZ Bank (ASX:ANZ) is losing market share to other big ASX banks
- 2 healthcare ASX shares that Morgans loves right now
- What’s Appening? The Appen (ASX:APX) share price has tumbled 20% in 2 weeks
- Here are the 3 top-performing ASX 200 banks of November
- 2 ASX shares with strong long term growth potential
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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