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:
Austal Ltd (ASX: ASB)
According to a note out of Citi, its analysts have upgraded this shipbuilderâs shares to a buy rating with a $2.31 price target. The broker was very pleased with news that Austal has won a major shipbuilding contract with the US government. It highlights that this win suggests the recent indictment of three former Austal USA employees by the US Department of Justice is not impeding Austalâs ability to win work with the US Navy. The Austal share price is trading at $2.01 this afternoon.
NIB Holdings Limited (ASX: NHF)
A note out of Goldman Sachs reveals that its analysts have initiated coverage on this private health insurerâs shares with a buy rating and $8.80 price target. The broker likes NIB due to its belief that it has stronger Australian resident health insurance underlying top line growth potential relative to its key rival. It also highlights that the company is taking more shareholder-friendly action to not profit from Covid-19, resulting in better reported margins. The NIB share price is fetching $8.30 today.
ResMed Inc. (ASX: RMD)
Analysts at Macquarie have retained their outperform rating and $38.00 price target on this sleep treatment focused medical device companyâs shares. Macquarie believes ResMed is well-placed to benefit from improved industry growth after a lull during the pandemic. In addition, due to competitor issues, the broker sees scope for the company to increase its market share in the coming years. The ResMed share price is trading at $33.79 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
- 5 ASX 200 shares to buy according to brokers
- Why AUB, Austal, Core Lithium, and Xero shares are pushing higher
- Why the Austal share price is sailing 25% higher today
- ‘Welcome improvement’: 3 ASX small-cap shares to grab right now
- 2 of the best ASX 200 blue chip shares to buy: Morgans
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 Austal and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended NIB Holdings. 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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