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:
ANZ Group Holdings Ltd (ASX: ANZ)
According to a note out of Citi, its analysts have retained their buy rating and $40.00 price target on this banking giant’s shares. With the major banks expected to release updates this month, Citi is feeling relatively confident about ANZ. The broker expects constructive outlook commentary and steady performances to support recent share price strength. Citi has named ANZ as one of its top two picks among the big four banks. The ANZ share price is trading at $37.66 on Monday afternoon.
PLS Group Ltd (ASX: PLS)
A note out of Macquarie reveals that its analysts have upgraded this lithium miner’s shares to an outperform rating with an improved price target of $5.00. This follows a significant upgrade to its lithium price forecasts for 2026. Macquarie is now materially more positive on spodumene and is expecting a price of US$1,800 per tonne this year. This is notably higher than PLS’ unit operating costs per tonne. As a result, it has boosted its earnings per share estimates and valuation accordingly and sees plenty of value on offer here. The PLS share price is fetching $4.13 at the time of writing.
REA Group Ltd (ASX: REA)
Analysts at Morgans have upgraded this property listings company’s shares to a buy rating with a $230.00 price target. According to the note, the realestate.com.au operator’s half-year results were only slightly behind expectations. As a result, it thinks the significant share price weakness was likely driven by a variety of factors, including cost outcomes and a lower volume guidance for the full year. Nevertheless, Morgans feels that the result highlighted the resilience of the franchise in a tougher volume environment. It highlights that REA Group’s strong yield growth (+14%) offset a 6% decline in listings. So, with its shares falling heavily from recent highs and comfortably below the broker’s valuation, Morgans sees now as a good time to buy. The REA Group share price is trading at $168.13 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
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- Why EOS, Lotus Resources, REA, and Web Travel shares are dropping today
Citigroup is an advertising partner of Motley Fool Money. Motley Fool contributor James Mickleboro has positions in REA Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. 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.