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:
Flight Centre Travel Group Ltd (ASX: FLT)
According to a note out of Bell Potter, its analysts have retained their buy rating and lifted their price target on this travel agent giant’s shares to $24.50. This follows the release of a third-quarter update which the broker described as “solid”. Looking ahead, the broker sees scope for Flight Centre to surpass pre-COVID profit levels by FY 2024 thanks to organic growth in the corporate channel and a more profitable leisure business post-restructure. The Flight Centre share price is trading at $20.60 today.
Macquarie Group Ltd (ASX: MQG)
A note out of Morgans reveals that its analysts have upgraded this investment bank’s shares to an add rating with a $215.00 price target. Morgans was pleased with Macquarie’s “stellar” full-year result, noting that it came in 7% ahead of consensus estimates. And while its dividend was short of expectations, it is willing to overlook this. Particularly given its favourable long-term growth profile and history of delivering strong returns. The Macquarie share price is fetching $183.96 on Monday.
REA Group Limited (ASX: REA)
Analysts at Citi have retained their buy rating but trimmed their price target on this property listing company’s shares to $153.50. This follows the release of REA’s third-quarter update last week. While declining listing volumes are expected in the fourth quarter, Citi was pleased to see the company launch its Premiere+ platform. This is expected to underpin yield growth in a changing environment. The REA share price is trading at $107.54 on Monday afternoon.
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Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, Macquarie Group Limited, and REA Group Limited. 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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