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 that leading brokers have named as buys this week are listed below. Hereâs why they are bullish on them:
IDP Education Ltd (ASX: IEL)
According to a note out of Credit Suisse, its analysts have initiated coverage on this language testing and student placement companyâs shares with an outperform rating and $35.50 price target. The broker likes the company due to its defensive earnings and exposure to structural growth markets. The latter is expected to be supported by the growing middle class in Asia. The IDP Education share price is trading at $27.98 today.
Global Lithium Resources Ltd (ASX: GL1)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this lithium developerâs shares with a trimmed price target of $3.60. This follows the release of its latest drilling update, which points to a large north-eastern extension of the existing Manna Deposit. Macquarie was pleased with the update and has only trimmed its valuation to account for a probable equity funding package to support project development. The Global Lithium share price is fetching $1.32 this afternoon.
Woolworths Group Ltd (ASX: WOW)
Analysts at Citi have retained their buy rating and $42.20 price target on this retail giantâs shares. The broker is feeling relatively positive on consumer spending and has boosted its earnings estimates marginally to reflect this. Citi is forecasting earnings per share growth of approximately 14% in both FY 2023 and FY 2024. The Woolworths share price is trading at $36.22 on Tuesday.
The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.
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More reading
- Should I buy Woolworths shares at $37?
- ‘Still has legs’: Not too late to buy these 2 stellar ASX 200 shares, says expert
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- ‘A rocky road ahead’: Expert names 2 ASX 200 shares to thrive in a tough 2023
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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 Idp Education. The Motley Fool Australia has recommended Idp Education. 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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