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Leading brokers name 3 ASX shares to buy today

With so many shares to choose from on the Australian share market, 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 shares that leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Adairs Ltd (ASX: ADH)

According to a note out of Goldman Sachs, its analysts have retained their buy rating and $2.10 price target on this homewares retailer’s shares following its trading update. Adairs reported like for likes sales growth of 3.3%, thanks largely to strong growth in online sales. Overall, Goldman is encouraged by its progress in FY 2020 and continues to rate its shares as a buy. Further, its analysts expect its shares to provide a fully franked dividend yield of ~8% in FY 2020. Given its attractive valuation and generous yield, I would agree with Goldman on this one.

Lendlease Group (ASX: LLC)

A note out of the Macquarie equities desk reveals that its analysts have retained their outperform rating and $19.77 price target on this international property and infrastructure group’s shares. According to the note, the broker has lifted its earnings forecasts after visiting the company’s new apartment development in Barangaroo. In addition to this, the broker notes the valuation gap between Lendlease and its peers. It suspects that this should close in time, especially given the solid growth prospects provided by its urban regeneration pipeline. I agree with Macquarie and feel Lendlease would be a great option right now.

ResMed Inc. (ASX: RMD)

Analysts at Credit Suisse have retained their outperform rating and lifted the price target on this sleep treatment specialist’s shares to $22.40. According to the note, the broker was impressed with ResMed’s first quarter update. It believes the key to its positive performance is the diverse product portfolio. Pleasingly, the broker appears confident its strong form can continue thanks to re-supplies and its increasing investment in data platforms. I think Credit Suisse is spot on and believe ResMed is one of the best buy and hold options on the market.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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