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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:

Bubs Australia Ltd (ASX: BUB)

Analysts at Citi have retained their high risk buy rating but cut the price target on this infant formula and baby food company’s shares to $1.05. According to the note, the broker has cut its price target to reflect downgrades to its estimates following a slowdown in its growth. During the second quarter Bubs reported revenue growth of 21%. This was down from 58% during the first quarter. Citi appears positive on its long term opportunity, though, and has retained its buy rating. While I think Bubs has potential, I wouldn’t be a buyer until its performance improves and it reaches profitability.

Nearmap Ltd (ASX: NEA)

A note out of Citi reveals that its analysts have retained their buy rating but cut the price target on this aerial imagery technology and location data company’s shares to $2.70. According to the note, the broker feels Nearmap’s original guidance for FY 2020 was too optimistic. However, it believes its buy thesis remains intact. It likes Nearmap for its scalable business model, its low penetration in a massive U.S. market, and its international expansion opportunities. I agree with Citi and believe the pullback in its share price is a buying opportunity for patient investors.

ResMed Inc. (ASX: RMD) 

According to a note out of Goldman Sachs, its analysts have retained their buy rating and lifted the price target on this sleep treatment specialist’s shares to $27.50. Goldman was impressed with its first half performance and appears confident its strong form can continue. It notes its improving penetration of an under-diagnosed condition and favourable pricing dynamics. Goldman believes the latter is more favourable than at any time through the last decade. I agree with Goldman Sachs and would be a buyer of ResMed’s shares with a long term view.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Nearmap Ltd. The Motley Fool Australia has recommended BUBS AUST FPO and 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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