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. Hereâs why they are bullish on them:
Champion Iron Ltd (ASX: CIA)
According to a note out of Goldman Sachs, its analysts have retained their buy rating and $6.90 price target on this iron ore minerâs shares. The broker likes Champion Iron due to the doubling of its production of high grade iron ore to 16Mtpa and strong free cash flow ramp-up from FY 2023. In addition, it highlights that the companyâs shares trade at an attractive 0.85x net asset value. The Champion Iron share price is trading at $6.04 on Monday afternoon.
Lovisa Holdings Ltd (ASX: LOV)
A note out of UBS reveals that its analysts have upgraded this fashion jewellery retailerâs shares to a buy rating with an improved price target of $29.00. The broker was impressed with Lovisaâs trading update and notes that it is outperforming peers. UBS was also pleased to see the companyâs global expansion has continued, with several new markets about to be entered. All in all, UBS has upgraded its earnings estimates meaningfully and lifted its valuation accordingly. The Lovisa share price is fetching $24.45 today.
NIB Holdings Limited (ASX: NHF)
Analysts at Morgans have retained their add rating and lifted their price target on this health insurerâs shares to $8.54. Morgans has been pleased with the companyâs strong start to the financial year, highlighting its solid policyholder growth and favourable claims environment. This has led to Morgans upgrading its earnings estimates for the near term. The NIB share price is trading at $7.18 this afternoon.
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 this ASX 200 share the gift that keeps on giving?
- Here are the top 10 ASX 200 shares today
- The $6 ASX 200 mining share that âabsolutely shouldâ trade in line with Fortescue: fundie
- NIB share price surges ahead as profits soar 31%
- Lovisa share price charges to record high on 60% sales boost
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 Lovisa Holdings Ltd. The Motley Fool Australia has recommended Lovisa Holdings Ltd and NIB Holdings 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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