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:
Aussie Broadband Ltd (ASX: ABB)
According to a note out of Ord Minnett, its analysts have retained their buy rating and $5.10 price target on this broadband provider’s shares. The broker has been looking at industry data and was pleased to see market share gains for Aussie Broadband. Another positive is a shift towards higher margin plans across the industry. The Aussie Broadband share price is trading at $4.12 on Monday.
BWX Ltd (ASX: BWX)
A note out of Citi reveals that its analysts have retained their buy rating on this personal care products company’s shares with a trimmed price target of $2.76. Citi took away positives and negatives from BWX’s investor day. The company’s long term margin guidance was ahead of expectations, but its revenue targets were either lower than planned or withdrawn. Nevertheless, Citi remains positive and believes the company’s Sukin brand is likely to appeal in a high inflation environment. It also estimates that the company’s shares trade at just 11x FY 2023 earnings. The BWX share price is fetching $1.42 this afternoon.
Woolworths Group Ltd (ASX: WOW)
Analysts at Goldman Sachs have retained their buy rating and $41.70 price target on this retail giant’s shares. This follows news that Woolworths has signed an agreement to acquire a controlling stake in MyDeal.com Au Ltd (ASX: MYD). While Goldman acknowledges that the deal is immaterial and MyDeal adds just 0.1% to Woolworths’ revenue, it sees potential for it to bolster its marketplace capabilities. The Woolworths share price is trading at $34.83 today.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Is the Woolworths share price a buy following the latest acquisition or a no deal?
- 5 things to watch on the ASX 200 on Monday
- Woolworths share price lifts following $218m online marketplace deal
- ASX 200 midday update: BHP, IGO, and Woolworths charge higher
- Here’s why the MyDeal share price is rocketing 56% today
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 positions in and has recommended Aussie Broadband Limited and Goldman Sachs. The Motley Fool Australia has recommended Aussie Broadband Limited and BWX 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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