With so many shares to choose from on the Australian share market, it can be difficult 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. Here’s why they are bullish on them:
Genesis Minerals Ltd (ASX: GMD)
According to a note out of Bell Potter, its analysts have retained its buy rating and $9.90 price target on this gold miner’s shares. This follows the release of a solid half-year result last week. In addition, it highlights that the company has signed an agreement to acquire Magnetic Resources NL (ASX: MAU) for $639 million. The broker believes this deal puts the company on a path to growing production to 500,000 ounces per annum, which is almost double its current production. Overall, the broker is a big fan of the company and points out that it is a high-quality gold producer with expanding production underpinned by a large mineral resource portfolio in a rising gold price environment. The Genesis Minerals share price is trading at $7.20 on Monday.
Guzman Y Gomez Ltd (ASX: GYG)
A note out of Macquarie reveals that its analysts have retained their outperform rating on this quick service restaurant operator’s shares with a trimmed price target of $27.30. This follows the release of a half-year result that fell short of consensus estimates due to another poor performance in the United States market. Macquarie believes the long-term outlook for the Australian business is positive but concedes that there is uncertainty for the US business. But it isn’t overly concerned, noting that management has the option for closing the business if the losses continue. As a result, it feels that recent share price weakness has created a buying opportunity for investors. The Guzman Y Gomez share price is fetching $19.25 at the time of writing.
Megaport Ltd (ASX: MP1)
Analysts at Morgans have retained their buy rating on this network-as-a-service provider’s shares with a trimmed price target of $15.50. According to the note, the broker was pleased with Megaport’s performance in the first half. It highlights that its EBITDA was ahead of both consensus and its own expectations. In addition, although management has reaffirmed its guidance for FY 2026, it thinks that this could be conservative given its lower than expected costs. The Megaport share price is trading at $8.06 on Monday 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
- Why Coronado, G8 Education, Megaport, and Perenti shares are dropping today
- Why UBS just upgraded Guzman Y Gomez shares to a buy
- Why this growing ASX 200 gold stock could rise 40%
- These are the 10 most shorted ASX shares
- 3 rapidly growing ASX 200 shares I would buy and hold for 10 years
Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Megaport. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.